Earlier this week we got the positive news that South Africa’s unemployment rate had fallen to its lowest level in more than five years.
This was swiftly followed by lower inflation numbers, tracking at 3.5% for 2026.
Our country represents the largest and most industrialised economy on the continent, yet for years we have been plagued by persistent unemployment.
Conversely, Nigeria, the third largest economy after Egypt, has been plagued by persistent challenges in broadening its prosperity for its citizenry despite low unemployment and cooler inflation rates.
The figures from this week, taken in conjunction with estimates for growth across the continent, represent a potential boon.
To pair this rise in commodities and GDP expectations, the global geography of trade is steadily shifting
The continent’s real GDP is projected to expand at more than 4% for 2026 and 2027, compared with expected global growth of about 3%.
To match this, we have seen a steady ascent in commodity prices. Gold and copper have been particularly consistent, as the former progressed beyond $4,000 per ounce in 2025 and is widely expected to better this performance.
Beyond this, a surge in rare earth and platinum group metals (PGMs) saw impressive price growth, with platinum, palladium, rhodium and ruthenium increasing in price.
To pair this rise in commodities and GDP expectations, the global geography of trade is steadily shifting.
According to the Standard Bank Group B20 leadership perspectives, it has been widely noted that seven of the 10 fastest-growing trade corridors now bypass the US, pivoting instead toward Asia and the Middle East.
In the African context, the pioneering African Continental Free Trade Area (AfCFTA), ratified by more than 48 states, is expected to raise collective income by $450bn by 2035 and increase intra-African trade by more than 80%.
This will service a burgeoning population of 1.4-billion people and offer a viable alternative to ructions we have seen from previously predictable global policy points such as tariffs and free trade agreements.
Again, this provides tangible evidence of the continent’s focused diversification providing avenues of growth.
Reform drives economic outcomes
The data is a key proof point but only one indicator. Across the continent, governments are advancing structural reforms that strengthen macroeconomic stability, modernise fiscal regimes and attract sustainable investment.
According to various surveys, including World Economic Outlook Update, January 2026; Global Economy: Steady amid Divergent Forces; and World Economic Outlook 2026/003, several African economies are expected to rank among the fastest‑growing globally in 2026 and the years ahead.
From renewable energy and infrastructure to manufacturing, logistics, telecommunications and mining, investment activity is accelerating and diversifying.
Africa’s demographic profile strengthens this outlook. More than 60% of Africans are under 25, making the continent the youngest region on earth. By 2050, its working-age population is expected to expand by more than 620-million people.
In addition to the people advantage, technological advances are helping with continental growth. AI’s global boom is deepening productivity on the continent. The African Development Bank estimates that AI could generate up to $1-trillion in GDP growth by 2035.
How do we build on the momentum?
There are many tales of deleterious outcomes that emerge when one in the lead grows complacent. And as history teaches us, those who do not learn from it are doomed to repeat its mistakes.
We have a great advantage based on factors that are both of our making and those beyond. And, as we have recently seen, the international order that has governed trade, capital and diplomacy since 1945 has been shaken — and the kaleidoscope pieces are being rejigged.
The challenge for us is in maintaining and building on the advantages we have.
Time to grasp the opportunity
Africa’s strength has always been in our power to look beyond our differences to address challenges. It is one of the implicit tenets that helps drive our collective growth. We believe in the saying “one hand washes another”.
Early in the coming week, we will host the second edition of our Africa Markets Conference 2026 (AMC26): a chance to exercise convening power for the good of the continent’s growth.
If we get this right, the question will no longer be whether the continent will grow, but how quickly and who will partner in that growth.
We cannot fail to seize this opportunity, as future generations depend on us to build tomorrow’s future through the decisions we make today.
• Masinda is CEO of Standard Bank Corporate & Investment Bank
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