Exploring the Staggering Economic Growth of Sub-Saharan Africa

Six of the top-performing global economies in 2024 will be from Sub-Saharan Africa, predicts the International Monetary Fund (IMF). Despite the limited scale of these economies, they’re contributing positively to a region plagued by poverty and inequality.

The economic growth of this region is set to rise from 3.3% in 2023 to 4% in 2024, with standout performances from Ivory Coast and Tanzania, expected to grow by 6.6% and 6.1% respectively, due to successful economic diversification and foreign investment attraction.

Sub-Saharan Africa’s growth prospects are brightening, noted 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.

However, South Africa and Nigeria, which jointly represent two-fifths of Africa’s US$2 trillion economy, are not…