Commodities

Whilst Ghana enjoys a relatively low tax burden, public debt is rising and the state is increasingly stamping out opposition. Economic momentum is slowing in light of inflationary pressures, but the foreign investment climate looks promising. Whilst…

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…

Guinea-Bissau suffers from substantial political instability and corruption, which limits democracy. Economic recovery is likely to be stronger than peers, driven by higher demand for agricultural products, but large dependence on the sector is a…

Although economic freedom is limited and endemic corruption persists, international assistance is helping government finances in Kenya. Whilst economic growth is slowing, adversely impacted by high inflation, infrastructure upgrades will be…

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…

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…

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…

Madagascar faces political instability and limited economic freedom, hindering structural reforms. While the primary sector underpins the economy, high inflation and elevated poverty rates challenge growth. Despite a young, expanding population and…

Malawi has relatively stable governments, yet deteriorating global peace and terrorism rankings suggests concerns over increasing violence. Economic forecasts are optimistic, with growth expected to exceed that of regional peers over the long term,…

Mali's political scene is marked by instability, significant military influence, and widespread corruption, with large areas beyond government control. Mali’s undiversified economy is reliant on international aid and its agriculture sector. The…

Mauritania suffers from political instability, whilst ethnic tensions are also a destabilising factor. However, government finances are relatively robust with fiscal room to manoeuvre. Recent hydrocarbon finds and rising commodity prices are expected…

Mauritius boasts a stable democracy and mature institutions, contributing to high economic freedom. Already highly diversified, the economy is set to grow in sectors like agro-processing and medical tourism. Country’s diverse population and low…

Although state finances are set to improve through higher taxation, economic freedom is challenging and corruption persists. Owing to lower agricultural output, the economy has slowed down markedly, but inflation is under control and fertiliser…

In Mozambique, ongoing conflict and corruption exacerbate economic challenges. The economy is hindered by high unemployment and reliance on agriculture. The young and growing population remains impoverished, facing healthcare and educational hurdles,…

Namibia has a relatively stable political environment, reflecting positive economic prospects. Investment in telecommunications is set to boost revenue growth in the coming years. Rapid population and consumption growth indicate a demographic…

The political climate in Niger is marked by corruption and external influences, including the presence of terrorist groups and foreign military aid. Economically, the country is poised for above-average growth, heavily reliant on agriculture and…

Weakness in the rule of law is negatively impacting economic freedom in Nigeria, as does pervasive corruption. Significant reliance on the oil sector can lead to volatile economic development, whilst persistently high inflation is adversely affecting…

Réunion, governed as a French overseas department is politically stable and has solid regulatory environment. Réunion’s economy is marked by high unemployment and dependency on imports, with France being a major economic support. The island has a…

Rwanda's political landscape is marked by a strong ruling party and improving global peace rankings, though challenges in fiscal health persist. Economic growth is set to surpass regional average, fuelled by consumption and services sector, despite…

High public debt and an inefficient judiciary characterise Sao Tomé e Príncipe (STP). Although the economy was negatively impacted by the Coronavirus (COVID-19) pandemic, adversely affecting tourism and commodity exports, recovery is nearing its…