Rwanda was ranked the third fastest-growing economy in Africa, with its gross domestic product (GDP) projected to expand to 7.2 per cent in 2026, according to the International Monetary Fund (IMF) World Economic Outlook. This follows strong performance in recent years, including a 7.2 per cent growth rate in 2024 and the first half of 2025, driven by services, construction, and coffee exports, based on IMF GDP data. ALSO READ: Rwanda’s economy up by 7.8% in Q2 2025 as base year changes Rwanda trails South Sudan, which is expected to grow by 48.8 per cent, and Guinea, projected at 9.3 per cent, placing the country third among the continent’s top performers. Other African economies forecast to achieve above-average growth include Ethiopia, Benin, Niger, Côte d’Ivoire, Uganda, Tanzania, and Zambia, with expansion rates generally ranging from 4.0 to 4.5 per cent. According to John Bosco Kalisa, an economist based in Kigali, Rwanda’s economic growth is being driven largely by the services sector, with tourism, construction, and financial services leading the way. ALSO READ: Economy records double digit growth in third quarter The manufacturing sector is also contributing, particularly mining, where gold production has nearly tripled in recent years, said Kalisa. These sectors form the backbone of growth, but productivity improvements across the broader economy remain crucial for sustaining long-term expansion, he added. The growth is largely underpinned by strong economic fundamentals, reflecting years of consistent effort and strategic investment across multiple sectors. Kalisa said that this diversified approach has positioned the country to maintain resilience in the face of global and regional pressures, ensuring that growth is not only strong but also sustainable. ALSO READ: What must change to unlock double-digit economic growth The projected 7.2 per centgrowth reflects strong economic momentum and resilience. Kalisa described such growth as “remarkable,” highlighting the country’s progress toward sustaining middle-income status. According to the National Institute of Statistics Rwanda (NISR), GDP reached Rwf5,525 billion in the third quarter of 2025, up from Rwf4,659 billion a year earlier. This reflects 11.8 per cent year-on-year growth. The economy expanded by 6.5 per cent in the first quarter and 7.8 per cent in the second quarter.
