World Bank Forecasts 1.8% GDP Growth, 47.8% Poverty in Africa

The World Bank projects that Sub-Saharan Africa's per capita GDP growth will reach 1.8% in 2026, while the poverty rate is expected to remain high at 47.8%. These projections were disclosed in the October 2026 edition of the Africa Economic Update, a biannual report assessing economic developments in the region.

Despite raising its economic growth forecast for Sub-Saharan Africa by 0.3 percentage points to 4.3%, the World Bank warns that the improvement in income per person is insufficient to significantly enhance living standards. Factors such as conflict, declining development assistance, high debt-service costs, and climate shocks continue to affect households.

Many poor households are engaged in low-productivity informal activities and subsistence agriculture, limiting income growth. The World Bank also noted that the absolute number of poor individuals is increasing due to population growth outpacing the decline in the poverty rate.

In Nigeria, the National Bureau of Statistics reported a real GDP growth of 4.43% year-on-year in the second quarter of 2026.