Nigeria has ranked 56th among the world’s 60 poorest countries in a 2026 ranking by Global Finance magazine.

The ranking uses GDP per capita based on purchasing power parity (PPP). Nigeria recorded $9,532.92, placing it close to the upper end of the list.

However, Nigeria fell 12 places from its 44th position in the 2025 ranking. The decline places the country among several African economies with low GDP-PPP per capita.

Africa dominates the ranking

African countries make up nine of the 10 poorest countries on the 2026 list. Yemen is the only non-African country in the bottom 10.

Burundi ranks as the poorest country, with GDP per capita of $994.23. The Central African Republic follows with $1,437.72. South Sudan ranks third at $1,467.19.

Yemen comes fourth with $1,590.19. Mozambique, Malawi, Somalia, Liberia, Madagascar and the Democratic Republic of the Congo complete the bottom 10.

The ranking uses PPP to compare economic conditions across countries. The measure adjusts for differences in prices, living costs and inflation.

This provides a different picture from nominal GDP per capita. It focuses more on the amount of goods and services that income can buy within each economy.

Nigeria ranks above several African economies

Nigeria ranks above several African countries on the list. Niger is 11th with $2,108.46, while Sudan ranks 13th with $2,427.43.

Burkina Faso is 16th with $3,060.34. Lesotho ranks 17th at $3,211.83, followed by Chad and Guinea-Bissau.

Mali takes 20th place with $3,480.41. Togo ranks 21st, while The Gambia and Sierra Leone occupy the 22nd and 23rd positions.

Uganda ranks 26th with $3,923.83. Rwanda and Tanzania follow at 29th and 30th.

Zambia ranks 31st with $4,380.77. Ethiopia follows at 32nd with $4,498.55. Guinea and Benin rank 33rd and 34th respectively.

Senegal occupies 37th place with $5,440.63. Cameroon follows in 38th position with $5,782.69.

Kenya ranks 44th with $7,590.60. Zimbabwe is 46th with $7,985.23, while Côte d’Ivoire takes 48th place with $8,165.34.

Ghana ranks 51st with $8,613.25. Mauritania is 52nd at $8,831.81, while Djibouti ranks 55th with $9,435.70.

Nigeria comes next at 56th with $9,532.92. Nicaragua ranks 57th with $9,765.25.

Nigeria’s economic position and housing

Nigeria’s ranking also has implications for the housing and real estate sectors.

Household income affects the ability of families to pay rent, buy land or purchase homes. It also influences demand for mortgages and other forms of housing finance.

Lower purchasing power can make housing costs harder to manage. It can also limit the number of households that can afford formal housing in major cities.

The construction sector faces similar pressures. High costs for land, building materials, labour and finance can make new housing more expensive.

These challenges make affordable housing policies important for Nigeria. Housing programmes must also consider household incomes and access to finance.

Wider African picture

The ranking shows that low-income economies remain heavily concentrated in Africa. Countries across West, East, Central and Southern Africa appear throughout the lower part of the table.

Angola ranks 59th with $10,274.90. Laos ranks 60th with $10,379.98, placing it at the bottom end of the ranking despite being outside Africa.

The 2026 figures also show notable changes from the previous ranking. Burundi moved from second place to first, while South Sudan fell from first to third.

The Democratic Republic of the Congo moved from seventh to 10th. Nigeria recorded one of the more notable changes, falling from 44th to 56th.

For Nigeria’s housing sector, the figures highlight the link between economic capacity and access to decent housing. Income levels affect homeownership, rent affordability, mortgage access and the ability of households to invest in property.

The ranking therefore offers more than an economic comparison. It also points to the importance of stronger incomes, affordable housing supply, accessible housing finance and effective infrastructure investment in improving living conditions.

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South Africa’s unemployment crisis has deepened, with the number of unemployed people rising to 8.5 million in the second quarter of 2026 as the country’s labour market continues to face significant pressure.

The latest figures from Statistics South Africa (Stats SA) showed that the official unemployment rate increased to 33.6 per cent, up from 32.7 per cent in the first quarter. The latest rate is the country’s highest since 2022.

The data covers labour-market conditions between April and June 2026 and shows that unemployment increased by 345,000 people during the quarter.

At the same time, employment declined slightly, with the number of employed people falling by 16,000 to 16.7 million.

Labour Market Under Pressure

The deterioration came despite a 121,000 increase in South Africa’s working-age population during the quarter.

The labour force expanded by 329,000 people, while the labour absorption rate declined to 39.6 per cent, indicating that employment opportunities are not keeping pace with the number of people entering or remaining in the labour market.

Employment losses were concentrated in sectors including community and social services and mining, while trade and construction recorded employment gains.

The latest figures represent another setback for South Africa’s economic recovery. The country’s unemployment rate had already increased from 31.4 per cent in the final quarter of 2025 to 32.7 per cent in the first quarter of 2026.

Foreign-Owned Businesses Face Pressure

The worsening labour market comes amid continued tensions surrounding foreign nationals and foreign-owned businesses operating in South Africa.

Nairametrics reported that anti-foreigner sentiment and xenophobic attacks have contributed to some foreign nationals leaving the country, while some Nigerian-owned businesses have reportedly shut down or relocated.

The situation has raised concerns about the possible impact on investment, entrepreneurship and employment, particularly where foreign-owned small businesses employ South African workers.

The debate has also generated calls from some Nigerians for economic measures against South African businesses in response to attacks and hostility towards Nigerians and other foreign nationals.

Economic Pressures Persist

South Africa’s weak employment performance is occurring against a difficult economic backdrop.

The latest quarter captured the period following the escalation of the Middle East conflict in February, which contributed to higher global energy prices and increased pressure on household budgets.

The South African Reserve Bank also raised interest rates in May to contain inflation, adding pressure to investment and consumer spending. The central bank’s benchmark rate subsequently remained at 7 per cent.

The combination of weak job creation, high unemployment, inflation concerns and elevated borrowing costs presents a difficult environment for policymakers.

What It Means for South Africa

The latest unemployment figures highlight the scale of the challenge facing South Africa’s economy.

With 8.5 million people officially unemployed, policymakers face increasing pressure to create conditions that encourage investment, expand businesses and generate sustainable employment.

The situation also demonstrates why maintaining a stable environment for both domestic and foreign entrepreneurs matters. Businesses can contribute to employment and economic activity, but continued tensions around foreign-owned enterprises could make the investment environment more difficult.

For South Africa, the immediate challenge is therefore not simply reducing the unemployment rate. It is creating enough productive economic activity to absorb a rapidly growing labour force while maintaining conditions that encourage businesses to invest and hire.

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Africa’s wealthiest investors are increasingly directing capital into real estate, viewing property as a critical tool for wealth preservation, income generation, and portfolio diversification amid rising global economic uncertainty.

This is according to a new report by Standard Bank Group, Africa’s largest lender by assets, which highlights growing demand for residential and commercial property among ultra-high-net-worth individuals with investable assets exceeding $50 million.

The trend reflects a broader shift toward tangible assets as affluent investors seek protection from market volatility, inflationary pressures, and currency fluctuations.

According to Chris Browne, Group Head of Wealth and Investment at Standard Bank Group, demand for real estate among the bank’s wealthiest clients has accelerated significantly in recent years as investors prioritise assets capable of preserving value while delivering long-term returns.

Property Acquisitions More Than Double

In South Africa, acquisitions of residential and commercial properties by Standard Bank’s ultra-high-net-worth clients more than doubled in the 12 months to September 2025 compared with the previous year.

The increase underscores the growing appeal of property investments among wealthy Africans who are reassessing traditional portfolio allocations amid uncertainty in global financial markets.

Real estate is increasingly being viewed not only as a store of value but also as a source of stable income through rental yields and long-term capital appreciation.

Real Estate Emerges as Core Asset Class

The report suggests that Africa’s affluent investors are becoming more strategic in their approach to wealth management, with real estate emerging as a core asset class alongside equities, private investments, and fixed-income securities.

Residential properties continue to attract buyers seeking wealth preservation and lifestyle benefits, while commercial real estate remains popular among investors looking for predictable cash flows and inflation-linked returns.

The trend also reflects confidence in selected African property markets despite broader economic challenges facing parts of the continent.

Investors are increasingly targeting assets in locations supported by urbanisation, population growth, and expanding business activity.

Opportunities for Wealth Managers

For financial institutions and wealth managers, the growing appetite for property presents opportunities to expand advisory services, financing solutions, and investment products tailored to the needs of high-net-worth clients.

Industry analysts believe that as wealth creation continues across key African economies, real estate will remain a central pillar of investment strategies for the continent’s ultra-rich.

The asset class continues to offer a balance of capital preservation, recurring income, and long-term growth, making it an attractive investment option in an increasingly uncertain global environment.

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The Group Managing Director of , , has called on African leaders, investors, and businesses to strengthen collaboration in order to accelerate trade within the continent and unlock Africa’s vast economic potential.

Ogbonna made the call while welcoming participants to the held in , , stressing the need to dismantle structural barriers that continue to limit intra-African trade.

Africa Still Underperforming in Global Trade

According to Ogbonna, Africa remains a minor player in global trade despite its large population, natural resources, and expanding markets.

He noted that many trade corridors across the continent are still fragmented, making it difficult for businesses—particularly small and medium-sized enterprises—to expand beyond national borders.

Speaking at the conference, he said the aim is to promote discussions that will translate into practical solutions for improving trade integration across Africa.

Key Barriers Hindering African Trade

Ogbonna explained that discussions from the previous edition of the conference highlighted several critical obstacles preventing smooth trade across African markets.

Some of the major challenges include:

• High cost of financing for businesses
• Fragmented cross-border payment systems
• Poor infrastructure and logistics networks
• Limited access to reliable trade information

He added that although technological advancements have started improving payment systems and logistics in some regions, the progress has been uneven across the continent.

Technology and Policy Reforms Key to Progress

The Access Bank chief also emphasised the increasing role of digital platforms in simplifying cross-border payments and improving market access for African businesses.

However, he stressed that meaningful progress will require coordinated policy reforms among African governments.

“Many of these improvements are concentrated in a few markets, and that is not sufficient if Africa is to fully unlock the potential of its internal trade,” Ogbonna said.

Call for Deeper Regional Integration

Ogbonna urged policymakers and financial institutions to work together to create an enabling environment that supports businesses seeking to trade across borders.

He noted that deeper economic integration could help African countries move beyond fragmented markets and build stronger trade ecosystems capable of driving sustainable growth.

Experts say strengthening intra-continental trade frameworks such as the could significantly boost economic development across the continent.

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Over the last 32 years, more than $250 billion in investment has flowed into Africa. This figure highlights the growing confidence in the continent’s potential. However, Cardoso cautioned that Africa must go beyond attracting capital it must channel these funds into sustainable, inclusive development. Local expertise, innovation, and policy reforms, he said, will be the true drivers of transformation. He called for increased support for small businesses, infrastructure, and financial systems that empower citizens.

Africa’s economic resilience has been tested repeatedly by global disruptions, yet the continent continues to show strength. According to the African Development Bank, Africa’s GDP is projected to grow by 4% in 2025. Key growth sectors include digital technology, clean energy, and intra-African trade. Cardoso highlighted that regional initiatives like the African Continental Free Trade Area (AfCFTA) and the Pan-African Payment and Settlement System (PAPSS) are already improving trade efficiency and reducing reliance on foreign currencies.

Cardoso also addressed the critical role of the African diaspora. In 2023 alone, over $54 billion in remittances was sent back to the continent, according to World Bank data. These funds, he said, must be viewed not just as financial aid, but as vital capital for development. With the right policies, diaspora contributions can help scale local enterprises, invest in education, and close infrastructure gaps. Cardoso urged leaders to engage the diaspora as active partners in shaping Africa’s future.

Closing his remarks, Cardoso called for bold institutional reforms, stronger governance, and financial transparency. He reiterated the CBN’s commitment to exchange rate reform, digital banking expansion, and inclusive finance. Ultimately, he argued, Africa must move from dependency to leadership. With united efforts and African-led strategies, the continent can take charge of its development and achieve lasting prosperity on its own terms.

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