East African Business Today!

Why is East Africa the best place for your investment? Well, with a population of over 60% of young people under 40 years of age, the future of this region is bright, investing now will put you at the forefront of all the opportunities that this region has to offer.

Africa’s Economic Surge: Forecasts Predict Strong Growth in 2024, Outpacing Global Averages.

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In a promising revelation, the African Development Bank Group ‘s latest Macroeconomic Performance and Outlook (MEO) report has projected that Africa is poised for robust economic growth in 2024, outpacing the global average. The continent is set to be the second-fastest-growing region worldwide, just behind Asia.

The report indicates that Africa will be home to eleven of the world’s 20 fastest-growing economies in 2024, with an overall real gross domestic product (GDP) growth expected to average 3.8%, surpassing the global projections of 2.9%. Furthermore, the forecast for 2025 is even more optimistic, with Africa’s GDP growth expected to reach 4.2%. The economic outlook across regions indicates that East Africa will lead the growth momentum, with a projected rise to 5.1% in 2024.