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Africa: Investment Driving Economic Growth of 3.7% in 2024

2025-07-02 10:28:39 Article Source:Economic and Commercial Office of the Embassy to the Republic of Benin

In 2024, the African Continent confirmed its position as a global growth engine. Despite global challenges like geopolitical tensions and rising protectionism, Africa's economy has demonstrated remarkable resilience. According to the latest African Development Bank data, Africa's economic growth in 2024 reached 3.7%, surpassing the global average of 3.2%, with a projection indicating an increase to 4.3% by 2025. East Africa is projected to become the fastest-growing region in Africa, with the real GDP growth rising from an estimated 1.5% in 2023 to 4.9% in 2024. Similarly, West Africa has demonstrated remarkable vitality, with a growth rate of 4.2% in 2024.