Commodities

Years of conflict have led to political instability in Libya. Rule of law is ineffective and corruption remains a major problem. Heavy reliance on hydrocarbons makes the economy extremely vulnerable to oil price shocks, whilst the precarious security…

Liberia has managed its government finances effectively. Peacefulness in the country is also increasing, following turbulence caused by the 2017 elections, but corruption persists. The economy is set to outperform the regional average, whilst foreign…

Lesotho is undergoing intensive reforms to strengthen institutions and enhance public service transparency, yet it faces challenges like persistent corruption and a rising budget deficit. Economic growth lags behind regional peers, with a reliance on…

In Guinea, political challenges stem from a leaning towards autocracy and persistent corruption. The country benefits from the mining sector yet faces high inflation and dependency on external funds. Rapid population growth and urbanisation strain…

Gabon faces challenges of corruption and a trend towards dynastic politics, yet shows signs of financial improvement. Country’s high reliance on oil is being counterbalanced by diversification efforts and foreign investment, particularly through…

Technological advances in 2024 will continue to reshape consumer behaviour. This annual report explores the top five digital shopper trends that will redefine commerce the most in the year ahead. Some of the trends included in this report’s edition…

Although corruption remains a problem and the rule of law is weak, Tanzania’s state finances are sustainable and economic freedom is improving. Economic momentum is robust and inflation is well contained, but reliance on agriculture continues to be…

Although perceptions are improving, corruption remains pervasive and economic freedom has deteriorated. Ethiopia’s economy is resilient and has outperformed peers, partly driven by foreign investment, but inflation is high and dependence on…

In Djibouti, authoritative governance is restricting civic liberties with deteriorating perception of corruption. However, despite being "mostly unfree," the country’s economy attracts foreign investments and maintains inflation control via a…

Eswatini, Africa's last absolute monarchy, faces challenges with limited economic freedom and growing corruption. Country’s economy, heavily influenced by South Africa and suffering from high unemployment, is expected to underperform compared to its…

Eritrea's political environment is marked by persistent autocracy, with no movement towards democratisation. Corruption is rampant, and tensions with neighbouring countries persist. Military-controlled economy, reliance on remittances and exposure to…

Equatorial Guinea faces low levels of economic freedom and pervasive corruption, with significant political instability. Country’s economy, heavily dependent on hydrocarbons, is threatened by declining oil production, despite growth seen in 2022. The…

The Democratic Republic of Congo (DRC) is afflicted with growing political divisions in a precarious security and humanitarian climate. Growth should be supported by the mining sector in 2021, as trade improves and inflation descends. Strong…

Congo-Brazzaville faces significant challenges with low levels of government transparency and pervasive corruption. The economy is heavily reliant on oil, yet efforts towards diversification are in progress. The population is young, however, is…

Comoros is ‘mostly unfree’ in economic freedom ranking, with corruption prevalent and civil liberties restricted. The economy is expected to outpace regional peers in the short term, but the economic base is narrow and exports are undiversified. The…

Chad faces endemic corruption and autocratic governance, with ongoing terrorism threats. Economic growth is set to outpace regional peers over the long term due to relatively contained inflation, FDI inflows and oil revenues. The rapidly growing…

The global wheat market in 2023 has seen a recovery in supply, following tight global supply and skyrocketing wheat prices in 2022 resulting from the onset of the war in Ukraine. Increased wheat exports from Russia, readjustments of supply chains and…

In the Central African Republic, political instability and violence persist, with the government's control limited largely to the capital. Endemic corruption and high levels of violence further exacerbate challenges in an economy highly reliant on…

Cabo Verde has one of the most politically stable landscapes in Africa. However, the country stands among the ‘moderately free’ in economic freedom ranking. Continuous recovery of tourism helps to maintain economic growth, which is expected to remain…

Burundi faces significant challenges marked by political instability and rampant corruption. High public debt raises concerns about fiscal health. The country’s largely agricultural economy is affected by energy shortages and minimal foreign…