Public Management

Burkina Faso set to surpass Mali as fourth largest economy in CFA zone by 2024 (IMF)

Burkina Faso set to surpass Mali as fourth largest economy in CFA zone by 2024 (IMF)
Tuesday, 23 April 2024 15:19

Collectively, the three AES countries will have a combined GDP of $62.3 billion. Burkina Faso will lead the way, overtaking its neighbor Mali, according to the IMF. Ouagadougou will nevertheless lag far behind the region's leading economy, Côte d'Ivoire, which will post a GDP of $86.9 billion this year.

The International Monetary Fund (IMF) forecasts Burkina Faso to become the fourth-largest economy in the CFA franc zone in 2024, overtaking its neighbor Mali, which will now fall back to fifth place, despite an increase in its economy to $21.6 billion (from $20.6 billion).

According to the institution's data, Burkina Faso's economy, estimated at $20.3 billion (at current prices) in 2023, will reach $21.9 billion this year, ranking behind Côte d'Ivoire, Cameroon, and Senegal. Despite political changes impacting both Burkina Faso and Mali in recent years, particularly their withdrawal from the Economic Community of West African States (ECOWAS), these nations are poised to transition from the CFA franc, which they view as a relic of colonialism, to a new shared currency with Niger. However, the full impact on their GDP remains uncertain pending further details. Primarily reliant on mining resources, both Mali and Burkina Faso are undergoing significant political shifts with potential economic repercussions.

In the CFA franc zone, Côte d'Ivoire maintains its lead among the top economies, fueled by sustained economic growth and ongoing oil and gas projects. The Ivorian economy is expected to surpass $100 billion for the first time in 2026, reaching $109 billion by 2027.

Ranking of CFA zone economies in 2024 according to IMF projections

  1. Côte d'Ivoire - $86.91 billion
  2. Cameroon - $53.20 billion
  3. Senegal - $35.45 billion
  4. Burkina Faso - $21.90 billion
  5. Mali - $21.66 billion
  6. Benin - $21.37 billion
  7. Gabon - $21.01 billion
  8. Niger - $18.81 billion
  9. Chad - $18.69 billion
  10. Republic of Congo - $15.50 billion
  11. Equatorial Guinea - $10.70 billion
  12. Togo - $9.83 billion
  13. Central African Republic - $2.81 billion
  14. Guinea-Bissau - $2.15 billion

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
IFC considers up to $50 million investment in Adenia Entrepreneurial Fund I Fund targets African SMEs across manufacturing, energy, healthcare,...
The Regional Securities Exchange BRVM entered 2026 after an exceptional year in 2025, during which market capitalization posted record gains. The year has...
Ivory Coast–based NSIA Group created its own reinsurance company, Manzi Re, after receiving regulatory approval from the CRCA. NSIA appointed former...
Governments plan to raise CFA3,908.5 billion on the BEAC public securities market The total is down from CFA5,272.8 billion mobilized between...
Most Read
01

Africa’s AI adoption is accelerating, but its ability to scale depends primarily on foundational i...

Africa’s Artificial Intelligence Moment : Infrastructure, Governance and the Path to Scale
02

African billionaires increased their combined net worth by $21.9 billion in 2025. Nigerian b...

Africa’s Billionaires Post Strong Gains as Global Wealth Hits Record
03

Development Partners International sold its 20.17% stake in Atlantic Business International for mo...

DPI Exits Atlantic Business International in $200 Million-Plus Deal
04

Flutterwave acquired Nigerian open banking startup Mono in an all-share deal valued between $...

Flutterwave Adds Open Banking With Mono Acquisition
05

Africa’s energy & mining exports benefit from US tariff exemptions, cushioning trade as most other...

Africa’s Energy Boom in 2026 Puts AfCFTA at the Heart of Its Trade Response to US Tariffs
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.