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Africa heads into 2026 with sovereign credit assessments that reflect a continent moving at different speeds. Ratings from Moody’s, S&P Global Ratings, and Fitch Ratings now show a wider gap between countries
The slowdown in overall inflation in Africa’s most industrialised nation mirrors a larger regional trend seen in other major economies in November including Nigeria and Ghana.
The warning comes weeks before the conflict-affected nation heads into a presidential election scheduled for December 28, with President Faustin-Archange Touadéra seeking a third term in office.
With the exception of a brief uptick in March, Nigeria’s inflation has trended downwards through most of 2025, pointing to easing price pressures and early signs of macroeconomic stabilisation.
The gap threatens the latest replenishment of the African Development Fund, the concessional financing arm of the AfDB, as donors gather in London this week for a two-day pledging conference aimed at raising $25 billion.
Many low-income countries had been struggling with mounting debt distress before COVID-19, but the pandemic worsened the problem. In the shadow of soaring Eurobond maturities and post-COVID economic scars, Africa’s low-income countries (LICs) have been facing a debt crisis.
The review marks a notable turnaround for Ethiopia, which only regained access to IMF financing last year after a long suspension triggered by stalled reforms and a conflict that erupted in 2020.
Egypt’s inflation cooled more than expected in November, easing pressure on the central bank and strengthening the case for resuming rate cuts at its 25 December meeting.
The successful auction comes on the back of fiscal consolidation, improved power supply and early signs of recovery in logistics as authorities push to revive South Africa’s struggling economy.
For decades, cross-border trade in Africa has depended on the U.S. dollar, an expensive middleman that small businesses can barely afford. Every time goods moved across a border, traders lost time and money converting local currencies through foreign banks.
Officials said state revenue reached $4.4 billion in September, reflecting 105% of the full year target amid stronger tax collection.
The latest PMI survey highlighted a broad-based upturn across the economy, with all five monitored sub-sectors reporting higher new orders.
South Africa was the only country to remain in contraction, with a PMI of 49, underscoring the economy’s continued divergence from an otherwise strengthening regional trend.
In November, input prices fell for the first time in three months, driven by a marginal drop in purchasing costs and reflecting a broader economic trend.
When Nigeria ratified the African Continental Free Trade Area (AfCFTA) in 2020, it was sold as a once-in-a-generation opportunity, a chance to plug Africa’s largest economy into a single market of 1.3 billion people…
Despite the moderation, the quarterly rise marks the fourth consecutive quarter of growth, the longest streak since 2021 when South Africa was emerging from the economic fallout of Covid-19.
The latest GDP figures arrive as Nigeria faces growing US pressure to tackle its security crisis, which continues to disrupt key sectors, including agriculture.
The Arab nation’s latest GDP figures stand well above the 3.5% growth recorded in the same period of last year and marks the fastest quarterly pace since Q1 2022.
The long-awaited upgrade reflects marked progress in restructuring Zambia’s external debt, and a strengthening economic backdrop, driven largely by a rebound in copper production.
Nigeria’s headline inflation rate fell for the seventh consecutive month in October 2025, dropping to 16.05%, according to the Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS).