The African Economic Outlook (AEO) celebrates its 15th edition this year. The African Development Bank, the OECD Development Centre and the United Nations Development Programme partner to produce this annual report. A team of over 100 researchers, economists, statisticians and other experts from Africa and other regions of the world collaborate on the AEO.

Africa’s economic performance held firm in 2015, amid global headwinds and regional shocks. Growth in real GDP is estimated at 3.6%, higher than the 3.1% for the global economy and 1.5% for the euro area. Africa remained the world’s second fastest growing economy after East Asia. In 2015, sub-Saharan Africa (excluding South Africa) grew faster than the continental average, at 4.2%, with East Africa leading the way at 6.3%. Growth in Central, North and West Africa was above 3%, while Southern Africa grew by an average of 2.2%. Looking ahead, average growth in Africa is expected to remain moderate at 3.7% in 2016 but could accelerate to 4.5% in 2017. This forecast hinges on the strength of the world economy and a gradual recovery in commodity prices.

The African Economic Outlook 2016 shows that the continent is performing well in regard to economic, social and governance issues and has encouraging prospects for the near future. With its special theme on sustainable cities and structural transformation, this edition looks closely at Africa’s distinctive pathways towards urbanisation and at how this is increasingly shifting economic resources towards more productive activities.