More than half of the 20 fastest growing economies in the world in 2024 are African
Africa will account for 11 of the 20 fastest growing economies in the world in 2024. That is according to the latest report by the African Development Bank (AfDB).
Africa will account for 11 of the 20 fastest growing economies in the world in 2024. That is according to the latest report by the African Development Bank (AfDB). The top 11 African countries expected to have the highest GDP growth are Niger (11.2%), Senegal (8.2%), Libya (7.9%), Rwanda (7.2%), Côte d'Ivoire (6.8 %), Ethiopia (6.7%). %), Benin (6.4%), Djibouti (6.2%), Tanzania (6.1%), Togo (6%), and Uganda (6%) . In addition, the report revealed that 41 countries on the continent will reach an economic growth rate of 3.8% in 2024, with 13 of them increasing by more than 1 percent faster than in 2023. Globally, the bank predicted that Africa will remain the second fastest growing region after Asia, with real GDP growth on the continent averaging 3.8% and 4.2% in 2024 and 2025, respectively. The rapid prosperity of the African economy is above the international average estimate of 2.9% and 3.2% . Giving a regional picture of this continent, AfDB focused on East Africa, whose growth is expected to rise to 5.1% in 2024 and 5.7% in 2025 . The bank also suggested that the continent of Africa should invest more in human capital and follow an industrialization strategy based on resources and a mix of policies that will allow the continent to build resilience to disasters .
