UEMOA growth to slow in 2026

The economic activity of the West African Economic and Monetary Union (UEMOA) is expected to slow slightly in 2026, with growth dropping from 6.3% in 2025 to 5.6%. However, the union is projected to stabilize at around 5.7% in 2027 and 2028, supported by countries like Benin, Cote d'Ivoire, and Niger.

Strong growth expected in key UEMOA countries

Benin is forecast to see GDP growth of 7.7% in 2027 and 7.5% in 2028. Cote d'Ivoire is expected to grow by 6.4% in 2027 and 6.5% in 2028, while Niger is projected to grow by 6.7% in 2027 and 6.1% in 2028. These figures highlight the varying growth rates among UEMOA members.

BCEAO reports stable economic growth

The Central Bank of the West African States (BCEAO) reported a real annual growth rate of 6% for the second quarter of 2026, following 6.1% in the first quarter. The bank expects growth to reach 6.2% in 2027, based on its projections.

Inflation and external trade improve

Inflation in the UEMOA region was 0.4% in the second quarter of 2026, after a 0.2% decline in the first quarter. This is partly due to rising transport costs and a slower decrease in food prices. The union's external trade position has also improved, driven by exports of gold, cotton, cocoa, and petroleum products.

Public debt and security challenges persist

The International Monetary Fund (IMF) reports that the total public debt of the UEMOA region has risen from 47% of GDP in 2019 to 68% in 2024. This increase is linked to high budget deficits following the suspension of the UEMOA convergence pact in 2020. The IMF also notes that debt service has reached 83% of tax revenues in 2025, limiting states' ability to fund public investments and social spending.

Security and governance issues remain key concerns

In addition to debt, UEMOA countries face security challenges, corruption, and the need to create jobs to reduce poverty. The region's ability to sustain growth will depend on political stability, regional cooperation, and effective institutions. Translating economic growth into improved living conditions will require a broader distribution of development benefits.

Niger boosts oil production

Niger has increased its oil production to 90,000 barrels per day on the Agadem block, a significant development for the country's energy sector. However, an uncontrolled eruption on the same block highlights ongoing risks and challenges in the region's oil industry.

Railway development hindered by insecurity

Armed conflicts in certain African regions pose an additional obstacle to the development of railway corridors. Beyond funding needs, insecurity adds a constraint to the realization of these infrastructure projects, affecting regional connectivity and economic integration.

South Africa seeks to resume uranium enrichment

South Africa, the only African country producing nuclear electricity, aims to resume uranium enrichment. The country has a long history in nuclear fuel production and is now looking to strengthen its position in the nuclear energy sector.

Ecobank-Benin invests in new projects

Ecobank-Benin has announced a $230.8 million investment to finance new strategic projects. During a visit to Benin, Ecobank Group Director General Jeremy Awori met with President Romuald Wadagni to discuss the bank's role in supporting the country's economic development.

West African art gains international attention

The Ellipse Art Projects 2026 showcase the work of a new generation of West African artists. Created in 2021, the Ellipse prize highlights emerging contemporary artists, aiming to bring their talents to a wider audience and support their artistic development.