Africa faces economic headwinds this year, but some of the continent’s brightest sparks are shading it in a more hopeful light. Six of the top-10 performing economies in the world are forecast to come from Sub-Saharan Africa in 2024, according to the International Monetary Fund.
Their smaller size won’t be enough to make up for less-stellar performances by South Africa and Nigeria, which together account for two-fifths of Africa’s $2 trillion economy. But collectively, they are helping to make a difference in a region that remains severely challenged by poverty and inequality. “Sub-Saharan Africa’s growth prospects are brightening,” said Bloomberg Africa Economist Yvonne Mhango. “Eight of the region’s top-10 biggest economies – which together account for another 40% of regional GDP – will grow by a strong 5% on average.”Click here to read the full article