South Africa Leads African Economic Rankings with Top Performance Index and First Fitch Rating Upgrade

South Africa topped the 2026 African Performance Index, which evaluates governance, global influence and innovation across 24 indicators. The ranking praised the country's strong scores in influence and innovation, while noting ongoing governance challenges. Namibia recorded the biggest jump in the index, rising to third place, and Mauritius secured second place.

In parallel, South Africa received its first credit‑rating upgrade from Fitch in more than two decades, moving one notch higher to a grade just below investment level after four consecutive years of budget surpluses. The upgrade follows earlier upgrades by S&P and Moody's and is expected to lower borrowing costs for the government and households. Nigeria’s stock market surpassed Morocco to become Africa’s second‑largest market, while the Johannesburg Stock Exchange remains the continent’s biggest with around $1.5 trillion in market value. Central banks across Africa are diverging on policy: Kenya kept its interest rate steady, while countries such as Botswana, Rwanda and South Africa raised rates, and others like Angola and Zambia continued cuts.