Top 10 African Countries With The Fastest-Growing Economies In 2024

The African Development Bank, has released a list of top 10 African countries with the fastest-growing economies in 2024.

Africa is expected to experience steady economic growth in 2024, building on the positive momentum shown in previous years. The continent now has one of the fastest-growing economies of any region, thanks to its young population and technological advancements. Currently, only Asia has a faster growing economy than Africa.

Key Highlights

• GlobalCurrent24.com presents the top 10 African countries on the list of fastest-growing economies in 2024.
• The report is titled Macroeconomic Performance and Outlook (MEO).
• This list is courtesy of a report from the African Development Bank .

According to the African Development Bank’s new study, Macroeconomic Performance and Outlook (MEO), which was released on Friday, African countries will top the list of the world’s fastest-growing economies.

According to the survey, African countries account for more than half of the top 20 on this list. “Africa will account for eleven of the world’s 20 fastest-growing economies in 2024,” according to the research.

“Overall, the continent’s real GDP growth rate is predicted to average 3.8% in 2024 and 4.2% in 2025. This exceeds the predicted global averages of 2.9% and 3.2%,” it says.

In addition to the current African Economic Outlook (AEO), which focuses on major emerging policy issues affecting the continent’s economy, Africa’s Macroeconomic Performance and Outlook is a biennial publication released in the first and third quarters of each year.
“Despite the challenging global and regional economic environment, 15 African countries have posted output expansions of more than 5%,” Dr. Akinwumi Adesina, President of the Bank Group, stated, emphasizing the need for increased financing and various policy interventions to boost Africa’s growth trajectory.

Despite Africa’s modest growth rate in 2023, the continent’s five regions’ medium-term economic prospects are gradually improving, according to the analysis.

Having said that, below are the top ten African countries on the list of fastest-growing economies in 2024.

Top 10 African Countries With The Fastest-Growing Economies In 2024

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