| Nigeria | +3.7% | +14.8% | +7.6% (Aug 2026) | 15.4% (Aug 2026) | 4.2% | +1.4% · $4.0bn, +148% on 2024 | 7.1 months | B- | +7.0% surplus | 34.6% | +68.8% | 1,333 NGN/USD. Currency: 12 months to Aug 2026; rate at the end of Aug 2026. FDI: net inflows, 2025; the change is in US dollars. Reserves: months of imports, 2025. Index: 252,456.74 at the 9 Nov 2026 close, 12 months from 7 Nov 2025 (Mansa Markets). |
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| Egypt | −7.2% | −4.6% | +4.5% (Aug 2026) | 14.5% (Aug 2026) | 5.1% | +4.2% · $15.5bn, −67% on 2024 | 4.4 months | B- | −4.4% deficit | 84.0% | n/a, no close a year earlier | 50.87 EGP/USD. Currency: 12 months to Aug 2026; rate at the end of Aug 2026. FDI: net inflows, 2025; the change is in US dollars. Reserves: months of imports, 2025. Index: 52,483.50 at the 10 Nov 2026 close; no close a year earlier is stored yet, so no 12-month change (Yahoo Finance). |
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| Morocco | −7.3% | −3.0% | +1.8% | 0.5% | 4.5% | +1.8% · $3.3bn, +90% on 2024 | 5.9 months | BB+ | −4.9% deficit | 66.6% | n/a, data ends 23 Oct 2026 | 9.300 MAD/USD. Currency: 12 months to Aug 2026; rate at the end of Aug 2026. FDI: net inflows, 2025; the change is in US dollars. Reserves: months of imports, 2025. Index: no close since 23 Oct 2026 (Mansa Markets). |
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| Kenya | −0.1% | −0.2% | +2.0% | 6.8% | 4.5% | +0.8% · $1.1bn, +42% on 2024 | 4.6 months | B- | −4.5% deficit | 72.9% | n/a, no close a year earlier | 129.5 KES/USD. Currency: 12 months to Aug 2026; rate at the end of Aug 2026. FDI: net inflows, 2025; the change is in US dollars. Reserves: months of imports, 2025. Index: 239.14 at the 9 Nov 2026 close; no close a year earlier is stored yet, so no 12-month change (Mansa Markets). |
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| South Africa | −1.9% | +10.0% | +2.8% | 4.5% | 1.0% | −0.5% · −$2.2bn, a net outflow, from $2.3bn in 2024 | 6.2 months | BB | −0.7% deficit | 78.0% | +3.5% | 16.12 ZAR/USD. Currency: 12 months to Aug 2026; rate at the end of Aug 2026. FDI: net inflows, 2025; the change is in US dollars. Reserves: months of imports, 2025. Index: 114,693.44 at the 10 Nov 2026 close, 12 months from 10 Nov 2025 (Yahoo Finance). |
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| Ghana | −7.3% | +1.3% | +8.8% | 5.2% | 5.7% | +1.7% · $1.9bn, +8% on 2024 | 3.8 months | B- | +6.0% surplus | 51.7% | n/a, data ends 23 Oct 2026 | 11.25 GHS/USD. Currency: 12 months to Aug 2026; rate at the end of Aug 2026, from the Bank of Ghana. FDI: net inflows, 2025; the change is in US dollars. Reserves: months of imports, 2025. Index: no close since 23 Oct 2026 (Mansa Markets). |
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| Mauritius | −0.9% | −3.2% | −0.3% | 5.1% | 2.7% | +5.0% · $804m, +18% on 2024 | 5.2 months | BBB- | −7.9% deficit | 87.6% | n/a, no close a year earlier | 47.59 MUR/USD. Currency: 12 months to Aug 2026; rate at the end of Aug 2026. FDI: net inflows, 2025; the change is in US dollars. Reserves: months of imports, 2024. Index: 2,062.71 at the 10 Nov 2026 close; no close a year earlier is stored yet, so no 12-month change (Mansa Markets). |
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| Botswana | +0.6% | +1.9% | −3.8% (Aug 2026) | 9.3% (Aug 2026) | 4.4% | −3.3% · −$649m, a net outflow, from $578m in 2024 | 4.7 months | BBB- | −1.0% deficit | 40.3% | n/a, no close a year earlier | 13.14 BWP/USD. Currency: 12 months to Aug 2026; rate at the end of Aug 2026. FDI: net inflows, 2025; the change is in US dollars. Reserves: months of imports, 2024. Index: 11,249.86 at the 9 Nov 2026 close; no close a year earlier is stored yet, so no 12-month change (Mansa Markets). |
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| Tunisia | Not covered | −0.3% | +1.4% | 5.6% | 2.4% | +2.0% · $1.1bn, +51% on 2024 | 4.5 months | CCC+ | −4.9% deficit | 86.1% | Not covered | 2.919 TND/USD. Currency: 12 months to Aug 2026; rate at the end of Aug 2026. FDI: net inflows, 2025; the change is in US dollars. Reserves: months of imports, 2024. Index: no main board in coverage. |
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| Tanzania | +6.0% | −6.6% | +2.0% (Aug 2026) | 4.3% (Aug 2026) | 6.0% | +1.9% · $1.7bn, the same figure as 2024 | 3.6 months | B+ | −2.7% deficit | 48.1% | n/a, no close a year earlier | 2,640 TZS/USD. Currency: 12 months to Aug 2026; rate at the end of Aug 2026, from the Bank of Tanzania. FDI: net inflows, 2025; the change is in US dollars. Reserves: months of imports, 2025 (IMF). Index: 4,349.57 at the 10 Nov 2026 close; no close a year earlier is stored yet, so no 12-month change (Mansa Markets). |
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| Uganda | +17.9% | −6.1% | +5.2% | 4.6% | 6.2% | +5.4% · $3.4bn, +8% on 2024 | 2.3 months | B- | −7.3% deficit | 55.1% | n/a, no close a year earlier | 3,780 UGX/USD. Currency: 12 months to Aug 2026; rate at the end of Aug 2026, from the Bank of Uganda. FDI: net inflows, 2025; the change is in US dollars. Reserves: months of imports, 2024. Index: 2,489.94 at the 5 Nov 2026 close; no close a year earlier is stored yet, so no 12-month change (Mansa Markets). |
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| Zambia | −2.9% | +24.0% | +4.6% (Aug 2026) | 6.2% (Aug 2026) | 5.6% | +4.5% · $1.3bn, −45% on 2024 | 3.3 months | CCC | +2.3% surplus | 82.1% | n/a, no close a year earlier | 19.03 ZMW/USD. Currency: 12 months to Aug 2026; rate at the end of Aug 2026. FDI: net inflows, 2025; the change is in US dollars. Reserves: months of imports, 2024. Index: 24,626.35 at the 10 Nov 2026 close; no close a year earlier is stored yet, so no 12-month change (Mansa Markets). |
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| Zimbabwe | +5.6% | +4.1% | +23.5% (2026F) | 4.0% (2026F) | 5.0% | +1.9% · $965m, +107% on 2024 | 0.5 months | Unrated | +5.3% surplus | 33.5% | n/a, no close a year earlier | 25.70 ZWG/USD. Currency: 12 months to Aug 2026; the UN Treasury's rate at the end of Aug 2026, not a market rate (see the table page). FDI: net inflows, 2025; the change is in US dollars. Reserves: months of imports, 2024. Index: 272.72 at the 10 Nov 2026 close; no close a year earlier is stored yet, so no 12-month change (Victoria Falls Stock Exchange). |
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| Rwanda | +4.5% | −1.9% (12 months to Jul 2026) | −11.2% | 20.0% | 7.4% | +5.9% · $967m, +69% on 2024 | 4.2 months | B | −10.5% deficit | 63.4% | n/a, no close a year earlier | 1,468 RWF/USD. Currency: 12 months to Jul 2026; rate at the end of Jul 2026. FDI: net inflows, 2025; the change is in US dollars. Reserves: months of imports, 2024. Index: 267.92 at the 10 Nov 2026 close; no close a year earlier is stored yet, so no 12-month change (Mansa Markets). |
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| Senegal | +10.8% | −0.5% | +2.0% | 1.0% | 6.7% (2025) | +0.1% · $37m, −99% on 2024 | 6.9 months (2025) | CC | −1.2% deficit (2025) | 127.7% (2025) | n/a, data ends 23 Oct 2026 | 565.7 XOF/USD. Currency: 12 months to Aug 2026; rate at the end of Aug 2026. FDI: net inflows, 2025; the change is in US dollars. Reserves: pooled at the BCEAO; the WAEMU's, months of imports, 2025 (IMF). Index: no close since 23 Oct 2026 (Mansa Markets). |
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| Côte d'Ivoire | +10.8% | −0.5% | +1.4% | 1.6% | 6.0% | +2.0% · $2.0bn, −35% on 2024 | 6.9 months (2025) | BB | −2.4% deficit | 57.8% | n/a, data ends 23 Oct 2026 | 565.7 XOF/USD. Currency: 12 months to Aug 2026; rate at the end of Aug 2026. FDI: net inflows, 2025; the change is in US dollars. Reserves: pooled at the BCEAO; the WAEMU's, months of imports, 2025 (IMF). Index: no close since 23 Oct 2026 (Mansa Markets). |
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| Benin | +10.8% | −0.5% | +1.1% | 1.9% | 7.0% | +2.0% · $482m, +22% on 2024 | 6.9 months (2025) | B+ | −5.6% deficit | 58.1% | n/a, data ends 23 Oct 2026 | 565.7 XOF/USD. Currency: 12 months to Aug 2026; rate at the end of Aug 2026. FDI: net inflows, 2025; the change is in US dollars. Reserves: pooled at the BCEAO; the WAEMU's, months of imports, 2025 (IMF). Index: no close since 23 Oct 2026 (Mansa Markets). |
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| Burkina Faso | +10.8% | −0.5% | −0.6% | 3.6% | 4.4% | +1.1% · $312m, from a net outflow of $202m in 2024 | 6.9 months (2025) | CCC+ | −0.6% deficit | 51.0% | n/a, data ends 23 Oct 2026 | 565.7 XOF/USD. Currency: 12 months to Aug 2026; rate at the end of Aug 2026. FDI: net inflows, 2025; the change is in US dollars. Reserves: pooled at the BCEAO; the WAEMU's, months of imports, 2025 (IMF). Index: no close since 23 Oct 2026 (Mansa Markets). |
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| Mali | +10.8% | −0.5% | −0.4% | 3.4% | 5.5% | +2.8% · $844m, −8% on 2024 | 6.9 months (2025) | CCC | −3.4% deficit | 39.7% | n/a, data ends 23 Oct 2026 | 565.7 XOF/USD. Currency: 12 months to Aug 2026; rate at the end of Aug 2026. FDI: net inflows, 2025; the change is in US dollars. Reserves: pooled at the BCEAO; the WAEMU's, months of imports, 2025 (IMF). Index: no close since 23 Oct 2026 (Mansa Markets). |
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| Niger | +10.8% | −0.5% | +1.7% | 1.3% | 7.0% | +1.2% · $257m, −28% on 2024 | 6.9 months (2025) | CCC- | −3.0% deficit | 46.3% | n/a, data ends 23 Oct 2026 | 565.7 XOF/USD. Currency: 12 months to Aug 2026; rate at the end of Aug 2026. FDI: net inflows, 2025; the change is in US dollars. Reserves: pooled at the BCEAO; the WAEMU's, months of imports, 2025 (IMF). Index: no close since 23 Oct 2026 (Mansa Markets). |
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| Togo | +10.8% | −0.5% | +0.6% | 2.4% | 5.0% | +1.9% · $221m, +9% on 2024 | 6.9 months (2025) | B- | −4.8% deficit | 64.7% | n/a, data ends 23 Oct 2026 | 565.7 XOF/USD. Currency: 12 months to Aug 2026; rate at the end of Aug 2026. FDI: net inflows, 2025; the change is in US dollars. Reserves: pooled at the BCEAO; the WAEMU's, months of imports, 2025 (IMF). Index: no close since 23 Oct 2026 (Mansa Markets). |
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| Guinea-Bissau | +10.8% | −0.5% | +3.7% | -0.7% | 4.7% | +1.3% · $34m, +26% on 2024 | 6.9 months (2025) | Unrated | −7.0% deficit | 73.9% | n/a, data ends 23 Oct 2026 | 565.7 XOF/USD. Currency: 12 months to Aug 2026; rate at the end of Aug 2026. FDI: net inflows, 2025; the change is in US dollars. Reserves: pooled at the BCEAO; the WAEMU's, months of imports, 2025 (IMF). Index: no close since 23 Oct 2026 (Mansa Markets). |
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| DR Congo | Not covered | +25.8% | +8.2% (2026F) | 4.3% (2026F) | 5.2% | +2.1% · $1.9bn, −36% on 2024 | 1.7 months | B- | −1.9% deficit | 23.7% | Not covered | 2,287 CDF/USD. Currency: 12 months to Aug 2026; the UN Treasury's rate at the end of Aug 2026, not a market rate (see the table page). FDI: net inflows, 2025; the change is in US dollars. Reserves: months of imports, 2023. Index: no main board in coverage. |
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| Republic of Congo | Not covered | −0.5% | +0.1% (Aug 2026) | 4.4% (Aug 2026) | 3.5% | +3.7% · $596m, −1% on 2024 | 3.4 months (2025) | CCC | +5.2% surplus | 80.5% | Not covered | 565.7 XAF/USD. Currency: 12 months to Aug 2026; rate at the end of Aug 2026. FDI: net inflows, 2025; the change is in US dollars. Reserves: pooled at the BEAC; the CEMAC's, months of imports, 2025 (IMF). Index: no main board in coverage. |
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| Cameroon | Not covered | −0.5% | +1.1% (2026F) | 3.4% (2026F) | 3.2% | +1.0% · $599m, −33% on 2024 | 3.4 months (2025) | CCC+ | −4.8% deficit | 40.1% | Not covered | 565.7 XAF/USD. Currency: 12 months to Aug 2026; rate at the end of Aug 2026. FDI: net inflows, 2025; the change is in US dollars. Reserves: pooled at the BEAC; the CEMAC's, months of imports, 2025 (IMF). Index: no main board in coverage. |
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| Equatorial Guinea | Not covered | −0.5% | −0.8% (Aug 2026) | 5.3% (Aug 2026) | -1.7% | +2.3% · $294m, +56% on 2024 | 3.4 months (2025) | Unrated | −0.1% deficit | 32.9% | Not covered | 565.7 XAF/USD. Currency: 12 months to Aug 2026; rate at the end of Aug 2026. FDI: net inflows, 2025; the change is in US dollars. Reserves: pooled at the BEAC; the CEMAC's, months of imports, 2025 (IMF). Index: no main board in coverage. |
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| Gabon | Not covered | −0.5% | +3.7% (2026F) | 0.8% (2026F) | 3.0% | +1.8% · $379m, +22% on 2024 | 3.4 months (2025) | CCC- | +1.3% surplus | 83.7% | Not covered | 565.7 XAF/USD. Currency: 12 months to Aug 2026; rate at the end of Aug 2026. FDI: net inflows, 2025; the change is in US dollars. Reserves: pooled at the BEAC; the CEMAC's, months of imports, 2025 (IMF). Index: no main board in coverage. |
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| Chad | Not covered | −0.5% | +6.5% (Aug 2026) | -2.0% (Aug 2026) | 4.5% | 0.0% · $4m, +53% on 2024 | 3.4 months (2025) | B- | +1.3% surplus | 31.1% | Not covered | 565.7 XAF/USD. Currency: 12 months to Aug 2026; rate at the end of Aug 2026. FDI: net inflows, 2025; the change is in US dollars. Reserves: pooled at the BEAC; the CEMAC's, months of imports, 2025 (IMF). Index: no main board in coverage. |
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| Malawi | −4.2% | +1.6% | +4.0% (Aug 2026) | 20.0% (Aug 2026) | 2.6% | +3.6% · $530m, +57% on 2024 | 0.4 months | Unrated | −12.2% deficit | 78.0% | n/a, data ends 26 Oct 2026 | 1,724 MWK/USD. Currency: 12 months to Aug 2026; the UN Treasury's rate at the end of Aug 2026, not a market rate (see the table page). FDI: net inflows, 2025; the change is in US dollars. Reserves: months of imports, 2025 (IMF). Index: no close since 26 Oct 2026 (Mansa Markets). |
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| Madagascar | Not covered | +3.7% | +4.1% (2026F) | 8.4% (2026F) | 3.8% | +4.5% · $889m, +47% on 2024 | 5.5 months | B- | −8.7% deficit | 49.8% | Not covered | 4,279 MGA/USD. Currency: 12 months to Aug 2026; the UN Treasury's rate at the end of Aug 2026, not a market rate (see the table page). FDI: net inflows, 2025; the change is in US dollars. Reserves: months of imports, 2024. Index: no main board in coverage. |
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| Mauritania | Not covered | −0.5% | −2.5% (Aug 2026) | 9.0% (Aug 2026) | 4.4% | +5.4% · $634m, −56% on 2024 | 5.4 months | Unrated | −7.8% deficit | 38.3% | Not covered | 40.08 MRU/USD. Currency: 12 months to Aug 2026; the UN Treasury's rate at the end of Aug 2026, not a market rate (see the table page). FDI: net inflows, 2025; the change is in US dollars. Reserves: months of imports, 2021. Index: no main board in coverage. |
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| Angola | Not covered | −0.1% | +6.4% | 8.4% | 4.4% | +1.8% · $2.2bn, from a net outflow of $1.1bn in 2024 | 5.3 months | B- | +2.8% surplus | 51.5% | Not covered | 912.9 AOA/USD. Currency: 12 months to Aug 2026; rate at the end of Aug 2026. FDI: net inflows, 2025; the change is in US dollars. Reserves: months of imports, 2025. Index: no main board in coverage. |
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| Mozambique | Not covered | 0.0% | +2.8% (Aug 2026) | 6.4% (Aug 2026) | 1.0% | +25.8% · $5.8bn, +64% on 2024 | 3.4 months | CC | −41.0% deficit | 91.0% | Not covered | 63.91 MZN/USD. Currency: 12 months to Aug 2026; rate at the end of Aug 2026, from the Banco de Moçambique. FDI: net inflows, 2025; the change is in US dollars. Reserves: months of imports, 2024. Index: no main board in coverage. |
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| Lesotho | Not covered | +10.0% | +4.4% (Aug 2026) | 2.6% (Aug 2026) | 1.1% | +1.3% · $33m, +126% on 2024 | 5.5 months | B | −2.5% deficit | 47.5% | Not covered | 16.11 LSL/USD. Currency: 12 months to Aug 2026; rate at the end of Aug 2026. FDI: net inflows, 2025; the change is in US dollars. Reserves: months of imports, 2024. Index: no main board in coverage. |
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| Guinea | Not covered | −1.5% | +4.1% (May 2026) | 5.4% (May 2026) | 7.2% | +27.4% · $7.8bn, +454% on 2024 | 1.3 months | B+ | −10.7% deficit | 34.8% | Not covered | 8,760 GNF/USD. Currency: 12 months to Aug 2026; the UN Treasury's rate at the end of Aug 2026, not a market rate (see the table page). FDI: net inflows, 2025; the change is in US dollars. Reserves: months of imports, 2024. Index: no main board in coverage. |
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