African Economic Outlook indicates steady growth through 2021

by

Africa’s economic growth remained stable in 2019 at 3.4% and is on course to pick up to 3.9% in 2020, and 4.1% in 2021 as revealed in the African Development Bank’s 2020 African Economic Outlook (AEO).

The slower than expected growth is partly due to the moderate expansion of the continent’s “big five” — Algeria, Egypt, Morocco, Nigeria, and South Africa – whose joint growth was an average rate of 3.1%, compared with the average of 4.0% for the rest of the continent.