World Bank Raises Africa 2026 Economic Growth Forecast to 4.3%

The World Bank Group raised its 2026 economic growth forecast for Africa to 4.3%, an increase from the 4.1% projection issued in April. In its Africa Economic Update report, the lender attributed the upward revision to improved management and economic reforms within major economies, specifically Nigeria, Ethiopia, Zambia, and Angola.

Despite this resilience in the face of high energy prices driven by the Iran war, the bank warned that low per capita income growth means these gains have not significantly reduced poverty. Andrew Dabalen, the World Bank's chief economist for Africa, noted that economic activity in the region continues to show "remarkable resilience."

To address the lack of job creation, Dabalen urged governments to invest in artificial intelligence to boost productivity. He recommended implementing low-cost AI applications in agriculture, education, and small business accounting to bypass existing capital and infrastructure limitations, stating that the next challenge is "turning growth into more jobs and better opportunities."