Forecast at 3.9% in 2020 against 3.4% last year, Africa's economic growth will draw a
rising curve according to the African Development Bank's Annual Economic Outlook
(ADB) newly unveiled. A dynamic driven by Rwanda, Ethiopia, Côte d'Ivoire, Ghana,
Tanzania and Benin. On the other hand, five major economies of the Continent will experience an expansion
moderate: Algeria, Egypt, Morocco, Nigeria and South Africa.
Despite external shocks, Africa's economy will do better overall in 2020, according to forecasts
of the African Development Bank (AfDB) which publishes its African Economic Outlook. In
effect at 3.4% in 2019, the Continent's GDP growth rate is expected to increase to 3.9% this year,
before increasing to 4.1% in 2021. This optimism of the AfDB is among others motivated by improvements
observed since last year when "the engines of growth are gradually shifting towards the
investment and net exports and moving away from private consumption," notes
the institution. For the first time in ten years, in fact, "investment represented more than half of the
growth of the Continent, private consumption representing less than a third". East, regional leader
Currently, the few economies driving Africa's growth engine are expected to
maintain their robustness. These are Rwanda, Ethiopia, Côte d'Ivoire, Ghana, Tanzania and
Benin, whose growth fluctuates between 8.7% and 6.7% and which are among the ten economies at the
fastest growing in the world. Regionally, therefore, East Africa remains the leading region in
material for growth with an average of 5% in 2019. The North of the Continent is in second place
with an average growth of 4.1%, followed by the west which shows 3.7%. Central Africa which tried to
multiply the ways out of the crisis last year ended with an increase of 3.2% growth,
against 2.7% in 2018. On the other hand, the shoe pinches still in the southern part of the Continent where growth has
down to 0.7%, against 1.2% in 2018. Read also: Charles Boamah: “The 54 African countries have
contributed up to 60% of the AfDB's capital increase » The AfDB estimates that the growth in
2020 could have gone beyond 3.9%, but the "moderate expansion" of the five major economies of the
Continent is also expected to alter overall growth momentum. Indeed, Algeria, Egypt,
Morocco, Nigeria and South Africa which experienced an average growth of 3.1% in 2019, against 4%
for the rest of the Continent, should not perform exceptionally well in 2020. Ultimate objective:
inclusion Despite these advances, the AfDB still notes the weak inclusion of economic growth
Africa, which still leaves a large segment of the population on the margins. From this year it will
be a question of strengthening development strategies so as to emphasize measures
inclusive. “Growth must be visible. Growth must be equitable. Growth must happen
felt in people's lives,” AfDB President Akibnwumi Adesina said in a statement.
Airing this Monday, February 3. To do this, the multilateral institution based in Abidjan is doing several
recommendations to countries are diversification of their production base, emphasis on innovation in
the key areas of their respective economies, but also and above all the strengthening of human capital
in order to develop the skills necessary for the influence of economies.