West Africa: 2014 Growth Snapshot

BMI forecasts that West Africa will outperform the rest of Sub-Saharan Africa in terms of real GDP growth in 2014. This will be driven by buoyant economic activity in heavyweights Côte d'Ivoire and Nigeria, although there are significant downside risks stemming from the political scene in both cases.

Burkina Faso: Burkina Faso has been the fastest-growing economy in UEMOA over the past five years, and will continue to perform well over the next decade thanks to cotton, mining and the consumer sector. However, there are risks to this outlook, most notably from a rapidly growing population and the risk of political unrest.

Benin: Real GDP growth will lag that of other UEMOA members over the next decade, as the country struggles to overcome internal weaknesses and external shocks. Although it remains a politically stable country in a tumultuous region, there is increasing risk of political discontent among the populace. Should this escalate then further risks to growth could arise.

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