The World Bank of Sub-Saharan Africa sent a brief note on the economy in sub-Saharan Africa in October 2022. The note informs that economic growth in Africa is slowing, while countries continue to struggle with rising inflation that is hampering progress in the fight against poverty.

In the latest issue of its semi-annual publication, the World Bank analyzes the regional short-term macroeconomic outlook. He clearly indicated that sub-Saharan Africa is experiencing a deceleration in growth, from 4.1% in 2021 to 3.3% in 2022. According to the note, this is equivalent to a decrease of 0.3 percentage points compared to the expectations announced at the beginning of the year, precisely last April. This deterioration is due to the slowdown in global growth and the fall in Chinese demand for commodities produced in Africa. Also, according to the World Bank's analysis, the war in Ukraine would contribute to depressing “both business investments and household consumption.” While 17 countries had double-digit inflation, 29 of the 33 sub-Saharan African countries for which information is available had inflation rates in excess of 5% as of July 2022. Andrew Dabalen, the World Bank's chief economist for Africa, said in an analysis note that “these trends are undermining poverty reduction, which is already being undermined by the consequences of the COVID-19 pandemic.”