Key Facts

1.216 billion (2016)
Area: 30.37 million km²
GDP (PPP) 2014 estimate
- Total US$3.757 trillion
- Per capita $3,568
GDP (nominal) 2014 estimate
- Total $2.390 trillion
- Per capita $2,173
Currency 42 currencies

Africa is the world's second-largest and second-most-populous continent. At about 30.3 million km² including adjacent islands, it covers 6% of Earth's total surface area and 20.4% of its total land area

  • Year in Review 2017 Algeria


    Stronger energy earnings, efforts to curb imports and increased tax revenue saw Algeria’s economy move onto a additional solid footing in 2017; however, the country’s ongoing reliance on hydrocarbons revenue continues to leave it exposed to external shocks.

    A positive return from the energy sector continued to drive increase this year. Energy exports rose 18% year-on-year in the initial 10 months of 2017 to reach $27.2bn, according to official data. And although oil and gas output is predicted to fall by 2.7% in 2017, the rebound in world oil prices means that full-year energy export revenue is expected to reach $32.3bn, up 16.6% on last year.

  • Year in Review 2017 South Africa


    A strong mid-year performance helped lift South Africa’s economy out of recession and back into positive territory in 2017. However, factors such as high unemployment and an expanding deficit could rein in increase in 2018.

    Agriculture driving economic rebound

    On the back of a 0.6% quarter-on-quarter (q-o-q) contraction between January and March 2017, the economy recorded q-o-q increase of 2.8% and 2% in April-June and July-September, respectively. The upturn pushed year-on-time(y-o-y) expansion over the January-to-September period to 1%.

    Much of this increase was driven by the agricultural, forestry and fisheries sector, which rebounded from a drought in 2016 to increase by 21.9% y-o-y over the initial nine months of 2017. In particular, the sector’s third-quarter expansion of 44.2% was the major quarterly jump in additional than 20 years.

  • Year in Review 2017 Egypt


    Improved performance in Egypt’s key sectors, tighter fiscal management and increased capital inflows drove an economic rebound last year, with increase expected to accelerate further in 2018.

    Egypt’s economy continued on an upward trajectory in FY 2016/17, posting increase of 4.2%, compared to projections of 3.5%, according to the IMF. Increase in the second half of the year, in particular, accelerated, expanding at an average rate of 4.6% at market prices – the fastest pace since FY 2009/10.

  • Year in Review 2017 in Kenya


    A slowdown in agricultural activity, tighter credit conditions, a mid-year spike in inflation and political uncertainty on the back of two disputed elections have contributed to a mixed year for Kenya, with the country scaling down internal increase forecasts.

    GDP increase was expected to reach 5% in 2017, down from 5.8% in 2016, but still well above the sub-Saharan average of 2.7%, according to the IMF.

  • Building for a lifetime, lasting through generations, Ghana


    Ibrahim Bah, Managing Director of Regimanuel Gray Limited (RGL), discusses the performance of the real estate sector in Ghana and how RGL strives to be the market leader particularly in terms of technology or advancing construction techniques.

  • Mr Ghassan Yared, CEO of Forewin Group


    In this interview with The Worldfolio, Mr. Ghassan Yared, CEO of Forewin Group, discusses the role of the private sector in Ghana’s economic increase, how Forewin Group has managed to diversify into one of Ghana’s biggest conglomerates and their new venture with Actis, “The Exchange” project.

  • Mr. Emmanuel Kofi Nti Commissioner General of Ghana Revenue Authority


    In this interview with The Worldfolio, Emmanuel Kofi Nti, Commissioner General of the Ghana Revenue Authority, discusses the importance of domestic revenue mobilization for the sustained socioeconomic development of the country, and how Ghana is moving from an ‘up-front tax to back-room tax’, allowing businesses to become additional competitive

    Like the rest of the world, Africa remains uncertain about what is approaching next world geopolitical shifts like Donald Trump’s election in the US and the upcoming Brexit. How can Africa take chance of this world landscape and gain investor confidence?

  • Africa: Making Things Happen at the Bank - 'Not a Talk Shop' - Akin Adesina


    Dr. Akinwumi Adesina is focusing on five areas to achieve the African and world goals for a prosperous continent since becoming president of the African Development Bank - Africa's major public financial institution in September 2015. He was a keynote speaker at this month's Corporate Council on Africa's U.S.- Africa Business Summit in Washington D.C. and moderated a lively panel with five African government ministers. He as well received the Gene White Lifetime Succcess Award from the World Child Nutrition Foundation. This week, he was named the 2017 recipient of the World Food Prize, a prestigious honor that includes a $250,000 award. In an interview in Washington, DC, Adesina discussed the Development Bank's ambitious schedule and his vision for attracting the increase capital Africa needs. Posting questions for AllAfrica was Noluthando Crockett-Ntonga.

  • Benin designs a digital future


    In December 2016, Benin announced its economic transformation plan, including 45 flagship projects addressing the major components of the west African country's economy. Six of the projects are specifically focused on constructing a digital economy. Serge Adjovi, director of Benin’s Digital Economy Agency, speaks to Joy Macknight about the laying the foundations for progress.

  • Central bank governor Rameswurlall Basant Roi


    For the past two years, Mauritius’s central bank has fostered measures to fortify the country's banking sector, which accounts for 12% of its GDP. While reforms are paying off, challenges such as offshore business risk persist and need to be managed, as central bank governor Rameswurlall Basant Roi tells James King.

  • Georges Philippe Ezaley, Mayor of Grand-Bassam, on the citys significance and potential


    Which sectors offer the majority potential for economic increase in Grand-Bassam?

    GEORGES PHILIPPE EZALEY: As the major tourist destination in Côte d’ Ivoire for both the local and international community, Grand-Bassam offers an array of tourism attractions.

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