A report published last Tuesday by the World Bank indicated that the sub-Saharan economy grew by 2.9% in 2023 compared to 3.7% in 2022.

The growth of the region's three main economies, namely Nigeria, South Africa, and Angola, slowed to an average of 1.8% last year according to the global economic outlook (PEM) from the international financial provider. This has hampered the overall growth of the region. According to the World Bank, growth was hampered in 2023 by intense and protracted conflicts, especially in Sudan, and by recent episodes of violence in Chad and Niger, which contributed to the increase in violent events in the region

Economic development in Sub-Saharan Africa is expected to accelerate to 3.8% in 2024 and 4.1% in 2025 thanks to the easing of inflationary pressures and the relaxation of financial conditions.