West Africa’s economies continued expanding strongly through October. Senegal and Côte d’Ivoire led growth, posting Q2 GDP gains of 11.8% and 7.1% respectively, driven by oil and gas production, extractives, and agriculture. Ghana grew 6.3% with a services surge, while Nigeria saw its fastest expansion in four years at 4.2%, lifted by oil output. Niger and Guinea also posted robust performances, with Niger hitting 9.5% growth thanks to new oil infrastructure.
Inflation has largely cooled. Ghana’s inflation fell to 8.0%, within its central bank’s target, for the first time since 2021. In the WAEMU region, Côte d’Ivoire and Niger experienced deflation due to strong harvests and fuel subsidies. Nigeria’s inflation eased to 18.0%, its lowest in over three years. Disinflation has given central banks room to shift from tightening to easing: Nigeria cut rates for
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