African markets and economies

Bullrun holds a reading for 53 economies in Africa, across 5 panels. Sudan carries the region's highest composite stress at 53 of 100. Coverage is not uniform: a panel a provider does not publish for this region is left out rather than filled from a proxy, and an economy missing from a table is one we hold no reading for, never a zero.

Economic stress in Africa

Composite stress, 0-100 for 8 economies, ranked. The whole cross-section, every region included, is on Country Stress Score.

#EconomyStress scoreBandPeriodSource
1Sudan53Elevated2025Bullrun
2Egypt52Elevated2025Bullrun
3Mauritius52Elevated2025Bullrun
4Tunisia50Elevated2025Bullrun
5Morocco38Watch2026-Q1Bullrun
6South Africa38Watch2026-07Bullrun
7Seychelles32Watch2025Bullrun
8Cabo Verde20Calm2025Bullrun

GDP growth in Africa

Real GDP growth for 52 economies, ranked. Reference period 2025. The whole cross-section, every region included, is on GDP Growth by Country.

#EconomyReal GDP growthBandSource
1Libya+13.37%StrongWORLDBANK
2Ethiopia+9.77%StrongWORLDBANK
3Rwanda+9.38%StrongWORLDBANK
4Zimbabwe+8.11%StrongWORLDBANK
5Benin+8.07%StrongWORLDBANK
6Guinea+7.45%StrongWORLDBANK
7Niger+7.01%StrongWORLDBANK
8Senegal+6.68%StrongWORLDBANK
9Côte d'Ivoire+6.50%StrongWORLDBANK
10Djibouti+6.50%StrongWORLDBANK
11Uganda+6.33%StrongWORLDBANK
12Togo+6.31%StrongWORLDBANK
13Cabo Verde+6.30%StrongWORLDBANK
14Ghana+5.95%StrongWORLDBANK
15Gambia+5.89%StrongWORLDBANK
16Tanzania+5.85%StrongWORLDBANK
17Guinea-Bissau+5.82%StrongWORLDBANK
18Seychelles+5.80%StrongWORLDBANK
19Dem. Rep. Congo+5.76%StrongWORLDBANK
20Mali+5.60%StrongWORLDBANK
21Chad+5.59%StrongWORLDBANK
22Burkina Faso+5.29%StrongWORLDBANK
23Liberia+5.02%StrongWORLDBANK
24Kenya+4.63%StrongWORLDBANK
25Sierra Leone+4.61%StrongWORLDBANK
26Morocco+4.60%StrongWORLDBANK
27Central African Rep.+4.50%StrongWORLDBANK
28Egypt+4.39%StrongWORLDBANK
29Burundi+4.24%StrongWORLDBANK
30Eswatini+4.19%StrongWORLDBANK
31Mauritania+4.03%StrongWORLDBANK
32Nigeria+4.01%StrongWORLDBANK
33Algeria+3.82%StrongWORLDBANK
34Zambia+3.76%StrongWORLDBANK
35Comoros+3.75%StrongWORLDBANK
36Cameroon+3.20%HealthyWORLDBANK
37Mauritius+3.15%HealthyWORLDBANK
38Angola+3.13%HealthyWORLDBANK
39Congo+3.08%HealthyWORLDBANK
40Sudan+3.06%HealthyWORLDBANK
41Madagascar+3.00%HealthyWORLDBANK
42Somalia, Fed. Rep.+2.99%HealthyWORLDBANK
43Tunisia+2.49%HealthyWORLDBANK
44Gabon+2.47%HealthyWORLDBANK
45Lesotho+1.98%SluggishWORLDBANK
46Malawi+1.89%SluggishWORLDBANK
47Namibia+1.73%SluggishWORLDBANK
48South Africa+1.11%SluggishWORLDBANK
49São Tomé and Príncipe+1.03%SluggishWORLDBANK
50Mozambique-0.52%ContractionWORLDBANK
51Botswana-0.73%ContractionWORLDBANK
52Eq. Guinea-5.85%ContractionWORLDBANK

Inflation in Africa

Consumer prices, year over year for 52 economies, ranked. The whole cross-section, every region included, is on Inflation by Country.

#EconomyInflation, YoYBandPeriodSource
1Niger-4.45%Deflation2025WORLDBANK
2Chad-3.91%Deflation2025WORLDBANK
3Burkina Faso-0.59%Deflation2025WORLDBANK
4Djibouti-0.31%Deflation2025WORLDBANK
5Côte d'Ivoire+0.13%At target2025WORLDBANK
6Seychelles+0.30%At target2025WORLDBANK
7Togo+0.43%At target2025WORLDBANK
8Morocco+0.70%At target2025WORLDBANK
9Guinea-Bissau+0.87%At target2025WORLDBANK
10Central African Rep.+1.00%At target2025WORLDBANK
11Benin+1.10%At target2025WORLDBANK
12Algeria+1.42%At target2025WORLDBANK
13Senegal+1.46%At target2025WORLDBANK
14Mauritania+1.55%At target2025WORLDBANK
15Gabon+1.77%At target2025WORLDBANK
16Libya+1.84%At target2025WORLDBANK
17Cabo Verde+2.34%A little above target2025WORLDBANK
18Congo+2.40%A little above target2025WORLDBANK
19Eswatini+2.60%A little above target2019WORLDBANK
20Botswana+2.66%A little above target2025WORLDBANK
21Dem. Rep. Congo+2.89%A little above target2016WORLDBANK
22Eq. Guinea+2.92%A little above target2024WORLDBANK
23Comoros+3.25%A little above target2025WORLDBANK
24Mali+3.28%A little above target2025WORLDBANK
25Tanzania+3.33%A little above target2025WORLDBANK
26Cameroon+3.40%A little above target2025WORLDBANK
27Namibia+3.51%A little above target2025WORLDBANK
28Guinea+3.55%A little above target2025WORLDBANK
29Uganda+3.58%A little above target2025WORLDBANK
30Mauritius+3.67%A little above target2025WORLDBANK
31South Africa+4.07%Elevated2026-07OECD
32Kenya+4.07%Elevated2025WORLDBANK
33Lesotho+4.27%Elevated2025WORLDBANK
34Mozambique+4.37%Elevated2025WORLDBANK
35Tunisia+5.15%Elevated2025WORLDBANK
36Rwanda+5.91%Elevated2025WORLDBANK
37Sierra Leone+7.49%Elevated2025WORLDBANK
38Madagascar+8.05%High2025WORLDBANK
39Liberia+8.32%High2025WORLDBANK
40São Tomé and Príncipe+11.05%High2025WORLDBANK
41Gambia+11.56%High2024WORLDBANK
42Ethiopia+13.23%High2025WORLDBANK
43Zambia+13.91%High2025WORLDBANK
44Egypt+14.07%High2025WORLDBANK
45Ghana+14.20%High2025WORLDBANK
46Angola+20.16%High2025WORLDBANK
47Nigeria+23.01%High2025WORLDBANK
48Malawi+28.37%High2025WORLDBANK
49Burundi+34.13%High2025WORLDBANK
50S. Sudan+91.44%High2024WORLDBANK
51Zimbabwe+104.71%High2022WORLDBANK
52Sudan+138.81%High2022WORLDBANK

Unemployment in Africa

Unemployment rate for 11 economies, ranked. The whole cross-section, every region included, is on Unemployment by Country.

#EconomyUnemployment rateBandPeriodSource
1Sudan60.6%Severe2025IMF
2South Africa32.4%Severe2025IMF
3Nigeria22.6%Severe2018IMF
4Tunisia15.2%Severe2025IMF
5São Tomé and Príncipe13.5%High2017IMF
6Morocco13.0%High2025IMF
7Algeria11.4%High2019IMF
8Cabo Verde8.5%Slack2025IMF
9Egypt7.3%Slack2025IMF
10Mauritius5.9%Healthy2025IMF
11Seychelles2.6%Tight2025IMF

Government debt in Africa

General government gross debt, percent of GDP for 51 economies, ranked. Reference period 2025. The whole cross-section, every region included, is on Government Debt by Country.

#EconomyDebt / GDPBandSource
1Sudan187.6%Very highIMF
2Senegal130.2%Very highIMF
3Mozambique102.5%HighIMF
4Cabo Verde101.0%HighIMF
5Congo96.8%HighIMF
6Egypt86.8%ElevatedIMF
7Mauritius86.5%ElevatedIMF
8Zambia86.0%ElevatedIMF
9Tunisia81.3%ElevatedIMF
10Gabon78.9%ElevatedIMF
11South Africa78.6%ElevatedIMF
12Malawi78.4%ElevatedIMF
13Guinea-Bissau75.3%ElevatedIMF
14Gambia73.9%ElevatedIMF
15Namibia70.2%ElevatedIMF
16Kenya69.3%ElevatedIMF
17Morocco67.1%ElevatedIMF
18Rwanda64.6%ElevatedIMF
19Togo63.0%ElevatedIMF
20S. Sudan62.1%ElevatedIMF
21Central African Rep.61.8%ElevatedIMF
22Benin57.3%ModerateIMF
23Côte d'Ivoire56.3%ModerateIMF
24São Tomé and Príncipe55.7%ModerateIMF
25Liberia54.9%ModerateIMF
26Uganda54.2%ModerateIMF
27Algeria54.1%ModerateIMF
28Burkina Faso52.0%ModerateIMF
29Seychelles51.5%ModerateIMF
30Angola51.3%ModerateIMF
31Tanzania49.7%ModerateIMF
32Lesotho49.1%ModerateIMF
33Ghana48.8%ModerateIMF
34Madagascar48.7%ModerateIMF
35Guinea48.1%ModerateIMF
36Niger45.4%ModerateIMF
37Sierra Leone45.2%ModerateIMF
38Eswatini44.9%ModerateIMF
39Zimbabwe43.8%ModerateIMF
40Ethiopia43.1%ModerateIMF
41Mali41.9%ModerateIMF
42Burundi41.2%ModerateIMF
43Eq. Guinea40.6%ModerateIMF
44Cameroon40.4%ModerateIMF
45Mauritania40.1%ModerateIMF
46Botswana38.6%ModerateIMF
47Nigeria35.5%ModerateIMF
48Djibouti32.1%ModerateIMF
49Chad30.4%ModerateIMF
50Comoros29.5%LowIMF
51Dem. Rep. Congo20.2%LowIMF

Economies of Africa

Each of these has a page of its own scoring it against six pillars - labour, housing, credit, fiscal, external and cycle - and showing which readings were too stale to count.

Stocks to research in Africa

Six listings that carry African operations, all of them resources, and all reachable from a US line. That is the honest shape of the exposure in our universe rather than a claim to cover the continent's exchanges: Johannesburg's own listings are not in it, so these are the ADRs and US lines of businesses that mine and refine there.

TickerCompanyMarketWhat to look at
GFIGold FieldsNYSESouth African and global gold output, grades, and all-in sustaining costs.
AUAngloGold AshantiNYSEPan-African gold production, cost inflation, and reserve life.
HMYHarmony GoldNYSEDeep-level South African mining, grade, and rand-cost leverage.
SSLSasolNYSESynthetic fuels and chemicals, energy prices, and South African utilities risk.
SBSWSibanye StillwaterNYSEPlatinum-group metals, gold, and exposure to South African power supply.
DRDDRDGOLDNYSESurface tailings retreatment, gold price leverage, and low capital intensity.

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Where these numbers come from

PanelEconomiesSource
Composite stress, 0-1008Bullrun six-pillar composite, built from OECD, BIS, IMF and World Bank releases
Real GDP growth52World Bank annual national accounts, with OECD and official sources for the quarterly panel
Consumer prices, year over year52Official national statistics offices, via OECD and the US Bureau of Labor Statistics, with World Bank annual CPI as the broad fallback
Unemployment rate11OECD and Eurostat monthly harmonised rates, with the IMF's annual series as the floor
General government gross debt, percent of GDP51IMF World Economic Outlook, general government gross debt

Bands match the shading on the Global Markets dashboard, so a country's colour there and its band here always agree. Regional membership is geographic, and the aggregate rows these providers publish - the euro area, the World Bank income groups - are excluded, because they would outrank the economies they are built from. See the data license.

Other regions

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