Africa’s economies continue to grow faster than the global average of 3% demonstrating resilience against several challenges including climate change, geopolitical tensions, rising inflation, food insecurity and rising debt.
The President of the African Development Bank Group, Dr Akinwumi Adesina said, “It is forecasted that Africa will account for 11 out of the 20 fastest-growing economies in the world in 2024,” adding, “15 African countries have posted output expansions of more than 5%."
He was addressing on Thursday the Bank’s annual luncheon for ambassadors and heads of diplomatic missions as well as representatives of international organizations based in Abidjan, Cote d’Ivoire.
Last week at the African Union Summit in Addis Ababa, the African Development Bank launched its African Macroeconomic Performance and Outlook Report for 2024 (https://apo-opa.co/3TkIacW). The report shows that Africa is projected to remain the fastest growing region in the world, after Asia, exceeding the global average of 3% in 2023.
(Source: ZAWYA)
