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\n What is driving growth in Africa’s top three economies?
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\n South Sudan’s position largely reflects the recovery of its oil industry, which accounts for about 95% of exports and between 70% and 80% of government revenue.
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\n The country’s economy suffered a severe setback after fighting in neighbouring Sudan disrupted a pipeline carrying its crude oil to international markets.
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\n According to the African Development Bank, South Sudan’s GDP contracted by 27.6% in the 2023\/24 financial year as oil production and exports collapsed.
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\n With shipments recovering, the IMF expects economic output to rebound sharply, restoring some government revenue and foreign exchange earnings. However, much of this expansion represents a recovery from previous losses rather than growth across several industries.
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\n South Sudan’s heavy reliance on oil also leaves it vulnerable to renewed conflict, disruptions to export infrastructure and fluctuations in global petroleum prices.
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\n Ethiopia’s growth, meanwhile, follows a different path, supported by economic reforms, stronger exports, infrastructure development and expanding private-sector activity.
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\n In July 2024, the government allowed the Ethiopian birr to trade more freely, introduced monetary policy reforms and secured IMF support as part of efforts to address foreign exchange shortages and restore economic stability.
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\n Despite these developments, inflation, external debt obligations and higher import costs continue to threaten household purchasing power and economic stability.
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\n Rwanda’s expansion is driven by construction, services, tourism and infrastructure investment as the country strengthens its position as a regional business destination.
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\n According to the IMF, Rwanda’s economy expanded by 9.7% in the first half of 2026, while stronger exports and remittance inflows helped narrow its external financing gap.
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\n However, inflation reached 15.7% in August, reflecting domestic price pressures and higher international energy and fertiliser costs. Rwanda is also pursuing an IMF-supported financing programme to strengthen economic stability.
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\n How Africa’s fastest-growing economies compare with global powers
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\n Similarly, South Sudan, Ethiopia and Rwanda are expected to outperform major global economies, including China at 4.5%, the United States at 2.3% and the United Kingdom at 1.3%.
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\n However, Guyana leads the global ranking with projected growth of 22.3%, largely driven by offshore oil production, followed by Taiwan at 10.7%, Vietnam at 8.4% and India at 7.0%.
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\n Other African countries among the 18 selected fast-growing economies include Guinea at 7.2%, Benin, Niger and Sudan at 7.0% each, and Uganda at 6.2%.
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\n Despite their higher growth rates, South Sudan, Ethiopia and Rwanda have much smaller economies than Nigeria, South Africa, China and the United States, highlighting the difference between rapid economic expansion and overall economic size.
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\n For the three countries, sustaining growth will depend on attracting investment, creating jobs, diversifying production and improving household incomes.
\n <\/p>\n","protected":false},"excerpt":{"rendered":"
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