African countries in the top 10 countries with the highest economic growth

Amram Petrosyan / Photo – Mozambique Mining Mineral GroupIn 2024, 6 of the world’s 10 most efficient economies will be in sub-Saharan Africa. This postulate is shared by Bloomberg, African Business, the Economist Intelligence Unit and the International Monetary Fund.

The World Bank predicts that sub-Saharan Africa will see a peak in economic growth this year, while the global economy will see its slowest GDP growth in 30 years, the report said. At the same time, the economies of the 6 countries south of the Sahara will be the fastest growing in the world – their growth according to the results of 2024 will be 3.8% on average, and in 2025 it will be even higher – 4.1%.

According to the Economist Intelligence Unit, in 2024 the African continent will become the second fastest growing region in the world, second only to Asia. And this growth will be ensured by the states of East Africa. At the same time, positive growth will be recorded in almost all African countries. Even the economies of civil war-torn Sudan and Equatorial Guinea, which have endured several recessions, are expected to grow this year. Construction, transport, tourism, mining and technology sectors will lead the economies of African countries, according to the EIU.

“Africa is one of the most promising destinations for international investors. Among the world’s fastest-growing economies, almost half are African. The leaders of the expected economic growth are Niger, Rwanda and Côte d’Ivoire. It is worth noting separately Mozambique – in this country difficult presidential elections were held. elections that determine the future, and the forecast for the growth of its economy is 4.3%”, – this opinion was expressed by the managing partner of Mozambique Mining Mineral Group Amram Petrosyan.

Therefore, the “Black Continent” can be considered the future locomotive of the entire world economy. With a current population of 1.5 billion, Africa’s share in the world economy is less than 5%. But both this share and the volume of consumption will grow rapidly. According to UN forecasts, by the year 2100, 5 of the 10 most populous countries will be in Africa, and in general, 40% of the world’s population will live on the continent at that time. All this together will create the prerequisites for a huge industrial potential and the region becoming the largest sales market, for which China, the USA, Russia and the European Union will fight with local manufacturers.