The Economist Intelligence Unit (EIU) has said Africa will be home to most of the world’s fastestgrowing economies in 2025.
According to the UK-based firm’s “Africa 2025 Outlook report”, three-quarters of the world’s top 20 pace setters will be found in Africa and all but 10 African states will post faster growth compared with 2024.
It said that the key drivers will be thriving international trade and solidifying intra-regional trade, upbeat services sectors and expanding industry.
Meanwhile, the EIU has said that Africa is ending 2024 on an economic upswing as many economies and key sectors continue to rally, adding that economic imbalances show signs of improving and the worst of the region’s sovereign debt pressures appear to be over.
The firm said that while the external debt and servicing burdens are still high, the larger and most exposed markets have sought and secured additional assistance or restructuring deals.
“However, the economic performance varies considerably across the continent, as disruptive regional rivalries and lingering social issues remain a cause for concern, and intense global geopolitics will create a difficult backdrop and present tough decisions for African governments.
Undoubtedly, the region will once again prove fairly attractive, dynamic, unstable and volatile in 2025”, it stated.
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