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African Development Bank (Abidjan)

Africa Dominates List of the World's 20 Fastest-Growing Economies

Africa will account for eleven of the world's 20 fastest-growing economies in 2024, the African Development Bank Group said in its latest Macroeconomic Performance and Outlook (MEO) of the continent released on Friday. Overall, real gross domestic product (GDP) growth for the continent is expected to average 3.8% and 4.2% in 2024 and 2025, respectively. This is higher than projected global averages of 2.9% and 3.2%, the report said.

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Dr. Akinwumi A. Adesina President of the African Development Bank Group, introducing the presentation of the 2024 Africa Macroeconomic Performance and Outlook Report in Addis Ababa.

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From left to right: Director, Center for Sustainable Development, Columbia University, Prof Jeffrey Sachs; AU Commissioner, Ambassador Albert Muchanga; African Development Bank President Dr Akinwumi Adesina, Vice President Marie-Laure Akin-Olugbade and Chief Economist and Vice President Prof Kevin Urama.

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