Of the 30 fastest-growing cities in the world, 21 are in Africa. The data comes from World Bank’s Global Economic Prospects (G.E.P). Benin Republic is a country located in West Africa made the IMF 2019 top ten (10) fastest growing economies to watch in 2019. According to the AfDB, the region grew by 5.7% in 2018, and is projected to grow by 5.9% in 2019, and 6.1% in 2020. In recent years, Africa’s average annual GDP growth has consistently outpaced the global average, and is expected to remain at least 6% until 2023. In 2017, this industry witnessed an upsurge of approximately 7.4% growth. Ethiopia. Africa is bestowed with young, fast-growing population. Ghana. This population has been credited with the current economic boom all over the continent. Last year, the country’s economy only grew by 5.6%, putting it in sixth position. Angola today is considered one of the fastest-growing economy in the world, despite recent struggles with the global oil market. Africa’s cities are experiencing a population boom. IMF projects an economic growth of 10.8 per cent. Rwanda. This forecast would change in the event of a deteriorating global economy. For optimum experience we recommend to update your browser to the latest version. Some of them are growing at unheard of rates. East Africa is the fastest growing region in Africa for the fifth straight year, according to the African Development Bank’s (AfDB) Economic Outlook for 2019. Here are IMF's top 10 African countries with the fastest growing economies right now: Libya. The International Monetary Fund (IMF) has predicted Ghana to be world’s fastest growing economy in 2019. Tanzania a country located in East-Africa has a GDP size of about $52.09bn and is projected by IMF to grow by 6.6% in 2019, from 5.8% in 2018. In 2019, sub-Saharan Africa will continue to have the fastest-growing mobile economy in the world but despite encouraging growth statistics, mobile inclusion remains a … A 7.8 per cent increase is expected in economic growth. Excluding South Africa, the continent’s largest economy, growth in Sub-Saharan Africa is forecast to rise to 6%. We have compiled a list of six growing economies in sub-Saharan Africa with the highest projected compounded annual growth rate (CAGR). 8.Benin. Ghana is world’s fastest growing economy in 2019—IMF . The Construction and Real estate industry: This is also another fast-growing industry in Kenya. The IMF talks of a growth rate of 8.8% in its World Economic Outlook. Second place goes to Ethiopia with a projected growth of 8.5 per cent. Your browser is not up-to-date. In 2017 it had a GDP of $124.209bn, but the sharp decline in global oil prices have caused GDP growth to drop to 1.5% from 10.3% pre-2014. 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