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Africa’s growth holds firm amid global turbulence, says 2026 African Economic Outlook

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Africa

According to the Bank’s flagship report, Africa’s growth in 2025 was supported by improved macroeconomic management, stronger agricultural output, elevated commodity prices, and ongoing structural reforms

BRAZZAVILLE, Republic of the Congo, May 28, 2026/APO Group/ —

  • The continent recorded an estimated average GDP growth of 4.4 percent in 2025, with 22 economies posting rates above 5 percent.
  • In 2026, Africa is projected to grow at 4.2 percent, despite heightened geopolitical tensions and global supply shocks.
  • Central Africa is expected to see growth rising to 3.8 percent in 2026 from 3.6 percent in 2025, buoyed by sustained high oil prices

 

Africa’s economies are projected to grow at 4.2 percent in 2026, moderating slightly from 4.4 percent in 2025, before rebounding to 4.4 percent in 2027. The findings of the 2026 African Economic Outlook, released Tuesday at the African Development Bank Group Annual Meetings in Brazzaville (www.AfDB.org), underscore the continent’s continued resilience in the face of geopolitical tensions, tighter global financial conditions, and supply chain disruptions.

According to the Bank’s flagship report, Africa’s growth in 2025 was supported by improved macroeconomic management, stronger agricultural output, elevated commodity prices, and ongoing structural reforms. The continent remains among the world’s fastest-growing regions, with 22 countries projected to grow above 5 percent in 2025.

Published under the theme, Mobilizing Africa’s Development Financing at Scale in a Fragmented World, the report notes that sustaining faster, inclusive and more resilient growth would require a decisive shift towards mobilising and deploying capital at scale. This includes strengthening domestic resource mobilisation, deepening and integrating financial systems, expanding capital markets, and enhancing African agency in global finance.

Mixed Regional Outlook 

  • East Africa is expected to remain the continent’s fastest-growing region, though growth is projected to ease from 6.6 percent in 2025 to 5.9 percent in 2026, as rising energy and import costs linked to Middle East disruptions take their toll. A rebound to 6.4 percent is anticipated in 2027.
  • West Africa is forecast to remain relatively stable, with growth projected at 4.7 percent in 2026, broadly in line with the estimated 4.8 percent for 2025, supported by strong agricultural production and continued infrastructure investment.
  • North Africa is expected to grow at 4.0 percent in 2026 compared to 4.4 percent in 2025, reflecting weaker tourism demand from Gulf states, and the broader effects of global supply chain disruptions.
  • Central Africa is one of the few regions projected to see an uptick, with growth rising marginally to 3.8 percent in 2026 from 3.6 percent in 2025, buoyed by sustained high oil prices.
  • Growth in Southern Africa is expected to remain subdued at 2.1 percent in 2026, from 2.3 percent in 2025, weighed down by weaker mining and agricultural output and higher energy costs.

Downside risks to the outlook remain significant. Inflation is projected to stay elevated at 10.4 percent in 2026, posing continued challenges to macroeconomic stability and growth prospects. Persistent geopolitical tensions, alongside prolonged global supply chain and energy disruptions, could further strain fiscal and external balances through higher energy and fertilizer prices. In addition, financial market volatility and exchange rate depreciations risk amplifying debt and fiscal vulnerabilities, while rising global fragmentation may intensify pressures on external financing flows, including official development assistance.

Closing Africa’s Financing Gap  

At the heart of the 2026 AEO report is a stark assessment of Africa’s development financing shortfall: the continent faces an annual gap exceeding $1.3 trillion to meet the Sustainable Development Goals. The African Development Bank attributes the deficit to low domestic resource mobilisation, weak financial intermediation and tightening external financing conditions.

However, it argues, the issue is not only about a lack of resources but also about effectively deploying capital.

With appropriate reforms, Africa could unlock up to $1.43 trillion annually through improved revenue collection, more efficient public investment, staunching illicit financial flows and corruption, deeper capital markets, expanded public-private partnerships, diaspora financing, and better use of natural capital.

Among the key opportunities identified are an estimated $469 billion in additional annual revenues from stronger tax and non-tax mobilisation, alongside roughly $299 billion in potential savings from improved public investment efficiency. Public-private partnerships are highlighted as a powerful lever, with each additional dollar of public investment associated with approximately $1.40 in private investment.

Institutional investors, including pension funds, insurers and sovereign wealth funds, manage around $4 trillion in assets; yet less than 2.7 percent is allocated to infrastructure and productive sectors in Africa, underscoring significant untapped potential.

The report calls for accelerated efforts to strengthen Africa’s financial systems through pan-African banks, integrated capital markets, and innovative instruments such as climate and Islamic finance. A central pillar to this is the New African Financial Architecture for Development (NAFAD) (https://apo-opa.co/4uIta9c), which aims to leverage over $4 trillion in assets within Africa’s financial ecosystem.

The report also highlights the role of the African Credit Rating Agency, launched in January 2026, as an important tool for addressing perceived biases in sovereign risk assessments. While Africa’s stock market capitalisation reached $1.2 trillion in 2024 — nearly sixfold growth over two decades — activity remains concentrated in South Africa, Egypt, Nigeria, and Morocco, pointing to the need for broader market integration.

The report further underscores the importance of advancing continental initiatives, such as the African Financing Stability Mechanism (https://apo-opa.co/4nTP7iR), to ease liquidity pressures, strengthen financial stability, and help African countries manage debt refinancing risks at lower cost.

Click here (https://apo-opa.co/4uAYM06) to read the full report

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

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Morocco: African Development Bank Mobilises €205 Million to Extend High-Speed Rail Line and Strengthen the Kingdom’s Mobility and Logistics Competitiveness

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African Development Bank

By improving travel flow between the Kingdom’s major economic and urban hubs, the project will promote more sustainable mobility and enhance territorial connectivity

RABAT, Morocco, July 9, 2026/APO Group/ –The Board of Directors of the African Development Bank Group (www.AfDB.org) approved €205 million in financing for Morocco to support the implementation of the Rail Infrastructure Development Support Project (PADIF) on 8 July.

 

The operation aims to strengthen the capacity and operational performance of the Kenitra–Marrakech railway corridor, which carries a significant share of the country’s passenger and freight traffic. It will do so by extending the high-speed rail line (HSR) and upgrading the existing railway infrastructure along this strategic corridor.

 

By improving travel flow between the Kingdom’s major economic and urban hubs, the project will promote more sustainable mobility and enhance territorial connectivity.

 

Beyond its positive impact on mobility, the project will support the transition to more sustainable and environmentally friendly transport modes and deliver significant economic benefits by reducing travel times and logistics costs.

 

In the long term, it will strengthen Morocco’s logistics competitiveness and reinforce its role as a strategic hub linking Europe and Africa

“By combining the extension of the high-speed rail line with the modernisation of existing infrastructure, this operation will help accommodate growing passenger and freight traffic, facilitate trade flows, and reduce travel times,” said Achraf Tarsim, Head of the African Development Bank Group’s Country Office in Morocco. “In the long term, it will strengthen Morocco’s logistics competitiveness and reinforce its role as a strategic hub linking Europe and Africa.”

 

The project includes the acquisition of equipment to modernise railway infrastructure along the Kenitra–Marrakech corridor and around the Casablanca rail hub. This includes the supply of new rails and track components for conventional rail lines and the high-speed network, to increase corridor capacity and sustainably improve operational performance.

 

PADIF also incorporates a project management support component covering project ownership, engineering supervision, and the monitoring and evaluation of results and impacts, ensuring effective implementation.

 

By contributing to the development of resilient, sustainable, and high-value-added infrastructure, the operation is fully aligned with the African Development Bank Group’s Four Cardinal Points (https://apo-opa.co/4vWv2Mb) and the institution’s 2024–2029 Country Strategy Paper for Morocco. It also supports Morocco’s New Development Model and the Rail 2040 Plan, which aims to modernise the national railway network.

 

Since 1978, the African Development Bank Group has mobilised nearly €15 billion to finance more than 150 projects and programmes in Morocco. Its interventions (https://apo-opa.co/4wd803P) span strategic sectors, including transport, social protection, water and sanitation, energy, agriculture, governance, and the financial sector.

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

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Institute for the Management of State Assets and Holdings (IGAPE) Launches Initial Public Offering (IPO) of Angola’s Largest Telecommunications Company

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IGAPE

The transaction comprises the sale of 7,500,000 ordinary registered book-entry shares, representing 15% of UNITEL’s share capital, each with a nominal value of AOA 5,000.00

LUANDA, Angola, July 9, 2026/APO Group/ –The Institute for the Management of State Assets and Holdings (IGAPE) (https://IGAPE.MinFin.Gov.ao), acting as the selling shareholder, launched the Initial Public Offering (IPO) of a 15% stake in UNITEL, marking one of the largest capital market transactions ever undertaken in Angola.

 

The transaction comprises the sale of 7,500,000 ordinary registered book-entry shares, representing 15% of UNITEL’s share capital, each with a nominal value of AOA 5,000.00. Upon completion of the offering, all 50,000,000 shares, representing the company’s entire issued share capital, are expected to be admitted to trading on the Angola Debt and Securities Exchange (BODIVA).

The final offer price will be determined within a price range of AOA 36,036.00 to AOA 40,040.00 per share. The price will be set following the bookbuilding process, based on investor demand during the subscription period.

The IPO comprises two tranches. The Employee Offering reserves 1,000,000 shares, representing 2% of UNITEL’s share capital, for preferential subscription by eligible employees. The General Public Offering comprises 6,500,000 shares, representing 13% of the company’s share capital, together with any shares remaining unsubscribed under the Employee Offering.

The subscription period opens at 2:00 p.m. on 6 July and closes at 3:00 p.m. on 24 July 2026, allowing retail, corporate and institutional investors to participate in what is expected to be a landmark transaction for Angola’s capital market.

Investors may submit subscription orders through the participating financial intermediaries: BFA Capital Markets, Áurea SDVM, Distribuidora Valor SDVM, Eaglestone SDVM, Standard Invest SDVM and Hemera Capital Partners Securities. Orders may also be placed through Banco Caixa Geral Angola and Banco de Fomento Angola via their branch networks, digital platforms, websites, telephone banking services and email.

With more than 21 million customers and operations across all 18 provinces of Angola, UNITEL has been the country’s leading telecommunications operator for the past 25 years. The IPO provides Angolan citizens and investors with the opportunity to become shareholders in one of the country’s most established companies and to participate in its future growth while supporting the continued development of Angola’s capital market.

Distributed by APO Group on behalf of Institute for the Management of State Assets and Holdings (IGAPE).

 

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Ancient Port, New Voyages: Ningbo’s Smart Manufacturing Expands Global Trade Footprint via Maritime Silk Road

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China

COLOMBO, SRI LANKA- Media OutReach Newswire – 9 July 2026 – On July 4, 2026, the cultural exchange event Encounter & Insight: Dialogue Between Ningbo, China and Colombo, Sri Lanka took place in Colombo.

Separated by thousands of miles, the two millennia-old port cities reconnected, leveraging their ports as a bond and cultural exchanges as a cohesive force to hold in-depth talks on integrated port-city development and bilateral economic and trade connectivity.

This cross-Indian Ocean dialogue echoes the ancient Maritime Silk Road while charting a brand-new outbound development path. As a pivotal starting port of the ancient Maritime Silk Road, Ningbo is building a new global trade landscape powered by smart manufacturing.

A thousand years ago, merchant vessels from Mingzhou Port set sail southward loaded with Yue Kiln celadon porcelain, passing through Ceylon to deliver Oriental crafts across the Indian Ocean coasts. Precious gemstones and spices traveled the same sea route back to regions south of the Yangtze River, laying the groundwork for the earliest cultural exchange between the two ports through trade. Today, the cargo carried by giant cargo ships has undergone a dramatic transformation. Beyond traditional daily necessities, intelligent equipment, digital home appliances and industrial robots now dominate shipments.

Official statistics show that Ningbo’s exports of intelligent equipment, including mechanical arms and industrial robots, hit 440 million yuan in 2025, surging more than 40% year-on-year. From January to May this year, Ningbo’s exports of mechanical and electrical products maintained steady growth, reaching 247 billion yuan, a 4.1% year-on-year increase and accounting for 58.0% of the city’s total export volume. The new energy foreign trade sector saw explosive growth, with exports of new energy vehicles, lithium batteries, and photovoltaic products jumping 138.4% year-on-year, with electric vehicle exports skyrocketing 215.9%. Smart manufactured goods are continuously expanding the scope of Ningbo’s foreign trade.

Complementing the Colombo forum, an exhibition highlights Ningbo’s outstanding going-global enterprises and their products, vividly illustrating the profound shift in Ningbo’s trade structure.

Alongside time-honored Maritime Silk Road staples such as celadon porcelain and silk, Ningbo’s smart manufactured products—including AI translation glasses, intelligent outdoor gear and digital small home appliances—occupy prominent display spaces across the venue. In Sri Lanka, Ningbo smart water meters are widely adopted nationwide, while handheld cooling fans and intelligent kitchen appliances have entered ordinary households.

Leveraging Colombo Port’s transshipment advantages, massive volumes of Ningbo smart manufactured goods are distributed onward to Europe, the Middle East and beyond. What Ningbo exports today is no longer mere commodities, but a complete outbound solution integrating technology, brand value and after-sales services.

Faced with mounting challenges including homogeneous global market competition and rising trade barriers, Ningbo’s manufacturing sector has abandoned the old model of low-cost OEM production, relying on intelligent transformation to consolidate its competitive edge in overseas markets.

Over more than a decade of digital transformation efforts, Ningbo has achieved full digital upgrading of all industrial enterprises above designated size. A large number of local factories have built unmanned black-light workshops and flexible production lines, escaping vicious price competition through continuous technological iteration. Represented by five specialized, sophisticated, distinctive and innovative enterprises dubbed Ningbo’s “Five Little Tigers”—famous for their core proprietary technologies, including highly sophisticated visual inspection equipment, heat-resistant materials, sun-proof coatings, puncture-proof materials and self-drilling fasteners—these niche manufacturers have developed differentiated technical routes and full-spectrum production capacity, cementing irreplaceable competitiveness for Ningbo smart manufacturing on global markets.

Beyond trade expansion, Ningbo has built a supporting cultural communication system to ensure “products go global, accompanied by local culture”.

The launch of Sri Lanka’s first “One-Meter Cultural Space” cultural station during the Colombo event marks a tangible milestone of Ningbo’s go-global initiative. Built on enterprises’ overseas outlets, these miniature cultural exhibition halls integrate intangible cultural heritage crafts, urban stories and smart products, enabling overseas clients to experience cutting-edge manufacturing while gaining insight into Ningbo’s profound cultural heritage.

During the twin-city story-sharing session, Ningbo entrepreneurs based in Sri Lanka and local designers blending Chinese and Sri Lankan aesthetics shared stories of bilateral exchanges. Economic and trade ties have evolved into a bond for people-to-people communication, bridging divides in cross-cultural trade.

From Tang-dynasty celadon porcelain sailing across the Indian Ocean to intelligent equipment shipping to every corner of the globe, Ningbo, the ancient Maritime Silk Road port, has preserved its enduring gene of openness. Where exchanges once relied purely on commodity trade, today smart manufacturing underpins a stable, diversified and high-value-added global trade network.

The Ningbo-Colombo dialogue stands as a vivid microcosm of this transformation: the port still links lands and seas, yet the core of its trade has undergone a full intelligent upgrade.

Rooted in its historical legacy as a key Maritime Silk Road hub, Ningbo has consolidated its industrial foundation through a decade of digital development, expanded global market reach via worldwide port networks, and softened trade cooperation through cultural exchanges. This brand-new outbound shipping route forged by smart manufacturing has not only reshaped the city’s foreign trade landscape, but also delivered a replicable port-city development model for Chinese manufacturing to go global.

 

 

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