Africa 2030: The 10 Economic Giants in the Making
By 2030, ten countries will stand out as Africa’s key economic engines. Explore where the strongest opportunities are for investors and franchise brands.
A Continent in Full Transformation
Africa is increasingly attracting the attention of investors. Despite an uncertain international context, the continent shows a growth dynamic that reinforces the appetite of global brands. During the Spring Meetings of the International Monetary Fund (IMF) and the World Bank in April 2025, economic projections through 2030 were presented.
The conclusion is clear: while some countries will see their growth slow and others accelerate, the overall ranking of Africa’s major economic powers will not undergo radical changes. However, notable developments suggest new opportunities for entrepreneurs, investors, and franchisees.
A Global Context to Monitor
These forecasts come at a time of uncertainty: the war in Ukraine, trade tensions with the United States, and challenges to mechanisms that facilitate African products’ access to the U.S. market. Added to this are dependencies on external financing and raw materials.
Despite this, the IMF anticipates that Africa’s combined GDP will rise from approximately USD 2.891 trillion in 2023 to nearly USD 3.945 trillion in 2030, a growth of more than 36%. At the global scale, the continent still represents a modest share, but the growth potential is considerable for well-adapted franchise concepts.
Wealth Concentrated in Ten Countries
Africa’s wealth remains highly concentrated: ten countries account for more than two-thirds of the continent’s GDP. They combine various strengths:
- Strong demographic growth (Nigeria, Egypt, Ethiopia);
- Abundant natural resources (South Africa, Angola, Algeria);
- High-performing agriculture (Côte d’Ivoire, Morocco, Kenya, Tanzania);
- Promising economic diversification (Egypt, South Africa, Morocco).
These markets form strategic hubs for entrepreneurship and franchising.
1. Egypt: The Engine of Tomorrow’s Africa
After temporarily losing its first-place position to South Africa, Egypt is expected to regain its status as Africa’s leading economic power by 2028. Its GDP is projected to grow from USD 394 billion (2023) to USD 587 billion (2030), an increase of nearly 50%.
Key strengths: population > 115 million, booming tourism (target: 30 million visitors in 2028), economic reforms, diversified industry, diaspora transfers, and gas resources.
Franchise insight: a must-enter market and a gateway to both Africa and the Middle East, with rising urban consumption.
2. South Africa: An Industrial Giant Despite Its Fragilities
Africa’s second-largest economy, South Africa, is expected to reach around USD 490 billion in GDP by 2030. As the most industrialized nation on the continent, its economy is diverse: manufacturing, mining, agriculture, tourism.
Challenges: governance issues, inequality, power shortages, and external trade pressures. Franchise insight: a strong base for international brands with an average purchasing power higher than the continental norm.
3. Nigeria: A Demographic Giant on the Rebound
With more than 220 million inhabitants, Nigeria remains a colossal market for retail, foodservice, and services. The sharp depreciation of the naira significantly reduced the dollar value of GDP between 2023 and 2024, but a rebound is expected toward USD 297 billion in 2030.
Expected supports: increased oil production, major infrastructure projects, and the rise of the Dangote refinery. Franchise insight: a unique high-volume market requiring price adaptation and careful exchange-rate risk management.
4. Algeria: An Economy Sustained by Oil
Statistical “rebasing” boosted official GDP to USD 265 billion (2024), but heavy dependence on hydrocarbons (>90% of exports) makes the outlook highly sensitive to oil prices.
Franchise insight: a growing market, but with targeted sector opportunities and the need for strong local partners for compliance and supply-chain management.
5. Morocco: The Rise of a Diversified Economy
A model of resilience, Morocco is expected to move from roughly USD 144 billion (2023) to USD 225 billion (2030), a +56% rise. Key drivers: modernized agriculture, automotive industry (top export sector), aeronautics, and services.
Co-hosting the 2030 FIFA World Cup will enhance infrastructure and tourism. Franchise insight: a natural hub between Europe and West Africa, with strong supply-chain and logistics performance.
6 to 10: Africa’s Rising Stars
Ethiopia
After significant devaluation, GDP is expected to rebound to approximately USD 233 billion in 2030. Franchise insight: potential in retail and urban services supported by infrastructure expansion.
Kenya
Around USD 162 billion expected by 2030. A tech and financial hub for East Africa. Franchise insight: suitable for retail-tech, education, healthcare, and new-generation QSR concepts.
Angola
Driven by oil, expected to reach around USD 145 billion by 2030. Franchise insight: premium B2C markets in capitals, requiring gradual expansion strategies.
Côte d’Ivoire
A top producer of cocoa and cashews, projected at ~USD 135 billion (strong decade growth). Franchise insight: a dynamic urban market (Abidjan) for foodservice, retail, and services.
Tanzania
A combination of agriculture, gas, and strong demographics, around USD 132 billion. Franchise insight: value-for-money concepts and regional logistics networks.
Methodology: ranking based on GDP at current prices in USD. A practical indicator for comparing economies but sensitive to inflation and exchange rates. Economic trajectories may diverge depending on currency movements and commodity price trends.
Opportunities for Franchisees
- Rapid urbanization and the rise of a consumer-oriented middle class;
- Need for proven concepts in foodservice, retail, education, healthcare, tourism;
- Major investments in infrastructure (transport, energy, digital);
- More structured business ecosystems in hubs (Cairo, Johannesburg, Casablanca, Nairobi, Abidjan).
By the editorial team of AfricaFranchise.com