Africa continues to assert its place in the global economic landscape, with 12 of the world’s 20 fastest-growing economies in 2025 located on the continent.
This was revealed by Dr. Akinwumi Adesina, President of the African Development Bank (AfDB), during his presentation at the 2025 Standard Chartered Bank Africa Summit recently held in Lagos.
According to Adesina, Africa’s economic outlook is improving steadily, with growth expected to rise from 3.3% in 2024 to 3.9% in 2025, and further to 4.0% in 2026. He noted that 21 countries across the continent are projected to grow by more than 5% in 2025, with several likely to exceed the 7% mark — a testament to Africa’s resilience and potential.
Despite these encouraging figures, Adesina pointed out that GDP growth per capita remains insufficient to drive broad-based prosperity for Africa’s 1.4 billion people. To bridge this gap, he emphasized the importance of the AfDB’s “High 5” initiatives, launched a decade ago to transform development outcomes across the continent.
“The High 5s—Power Africa, Feed Africa, Industrialize Africa, Integrate Africa, and Improve the Quality of Life—have, in the last ten years, impacted the lives of more than 565 million people,” he said.
Adesina attributed much of Africa’s economic momentum to its fast-growing and youthful population, which is driving consumption and expanding the region’s consumer base. He highlighted that the size of the continent’s consumer economy is projected to rise from $1.4 trillion in 2015 to over $2.5 trillion by 2030.
He also underlined Africa’s crucial role in global food security, pointing out that 65% of the world’s remaining uncultivated arable land is found in Africa. “How Africa harnesses its agricultural potential will shape the future of food globally,” he noted. The continent’s agriculture and food sector is projected to reach a value of $1 trillion by 2030.
In addition, Adesina stressed the importance of embracing digital technology to drive agricultural productivity and income growth. He cited the partnership between the AfDB and Mastercard, which aims to provide 300 million African farmers with digital access to critical agricultural data and distribution networks.