AfDB President Dr. Akinwumi Adesina said on Thursday, January 30 in Abidjan, at the headquarters of
the institution that economic growth is expected to reach 3.9% this year on the continent.
In a public presentation of the African Economic Outlook 2020, he suggested that 20 countries
are expected to grow by 3-5% this year, while 20 countries are expected to achieve growth rates of
5% and more, which he said was impressive.
African economies were doing well, more than the global average, he noted. "Even more
Six of the world Africa," said the AfDB President. He announced that these countries are Rwanda with 8.7%, Côte
ivory 7.4%, Ethiopia 7.4%, Ghana 7.1%, Tanzania 6.8% and Benin 6.7%. Some regions
are growing faster than others.
East Africa is the fastest growing region with a growth rate of 5% in 2019,
followed by North Africa 4.1%, West Africa 3.7%, Central Africa 3.2% and Southern Africa 0.7%
"For the first time in more than a decade," Akinwumi Adesina noted, "growth in Africa is due largely to the expansion of investment rather than consumption, as well as exports. "
Just think of the following, foreign direct investment in Africa increased by 11% in 2019,
compared to only 4% in Asia, while they decreased by -13% worldwide and -23% for
developed economies," he explained. Challenges remain, however, the AfDB President said
that Africa was facing significant economic headwinds that could affect growth
Future. According to him, global trade tensions have weakened global trade volumes, including
Growth rate, falling from 5.7% in 2017 to just 1.1% in 2019, is one of the problems. "Another
The challenge has been the impact of climate change, especially because of extreme weather
such as the cyclones that devastated Mozambique, Malawi and Zimbabwe, as well as the drought
widespread in Southern and Eastern Africa.
The African Development Bank has provided $106 million to support Mozambique,
Zimbabwe and Malawi in the aftermath of the cyclones, in addition to other emergency aid. » "African countries
cannot continue to move from one emergency to another," said the pan-African bank while indicating that its institution had used its r disaster risks in Africa to pay insurance premiums for countries facing events
extreme weather, at a rate of $36 million.