Africa’s economic growth will outpace the rest of the world’s economy over the next two years, the African Development Bank Group said in a report.
The African Development Bank Group President, Dr. Akinwumi Adesina, said the release of the new report came at a time when African economies, faced with significant headwinds, were proving their resilience.
“Slowing global demand, tighter financial conditions, and disrupted supply chains, therefore, had differentiated impacts on African economies. Africa’s pre-COVID-19 top five performing economies were projected to grow by more than 5.5 per cent on average in 2023-2024 and to reclaim their position among the world’s 10 fastest-growing economies.
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