The Democratic Republic of Congo is set to surpass Ethiopia and become sub-Saharan Africa’s fifth-largest economy this year, according to the IMF. Driven by a mining boom and a currency that has strengthened more than 25% against the dollar, Congo’s GDP is forecast to hit $123 billion in 2026. The nation recently raised $1.25 billion through its first-ever dollar bond sale and is attracting major global investors eager for battery metals like cobalt and lithium. Meanwhile, Ethiopia faces economic turbulence after liberalizing its currency, the birr, which has weakened by roughly 17%. Fuel shortages and the near-closure of the Strait of Hormuz have added to Ethiopia’s struggles. While Ethiopia still posts faster growth, Congo’s resource-driven momentum is reshaping regional economic rankings and positioning it as a key player in the global energy transition.
Financial Post
