African Economies Show Resilience Amidst Global Uncertainty

Jordan Vega

Jordan Vega

October 21, 2024 · 1 min read
African Economies Show Resilience Amidst Global Uncertainty

Despite the World Bank's recent downward revision of growth projections for several sub-Saharan African countries, many nations on the continent are experiencing robust economic growth. According to the World Bank's Africa Pulse report, 27 Sub-Saharan African countries are projected to see an increase in real GDP growth in 2024, with eight countries achieving growth of over 5%.

Rwanda takes the top spot with a remarkable 7.6% real GDP growth, followed closely by Mauritania, Côte d'Ivoire, Benin, and Ethiopia. These countries' growth is largely driven by structural changes and public infrastructure expenditures.

The report's findings are significant for the tech and startup community, as a growing economy presents opportunities for innovation, investment, and entrepreneurship. A thriving economy can also lead to improved access to basic services, higher income levels, and job creation, ultimately benefiting the population.

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