5 African countries driving growth amid global challenges: Video
Even though the global economy is slowing down, Sub-Saharan Africa is staying strong.
According to the IMF’s latest outlook, five countries —South Sudan, Guinea, Ethiopia, Rwanda, and Uganda— are among the world’s fastest-growing economies, each outpacing the region’s 4.1% growth average.
South Sudan is staging a comeback, with its oil sector fuelling recovery. Guinea is booming, powered by rich deposits of bauxite and iron ore and a surge in energy projects.
In Ethiopia, growth remains strong, driven by construction, agriculture, and energy expansion.
Rwanda continues to attract attention through its vibrant tech start-up ecosystem and thriving tourism industry, while Uganda is positioning itself for an economic boost from new oil production and robust coffee exports.
The IMF attributes these successes to smart policy reforms and improved debt management, which are enabling these economies to stay steady even as global demand weakens.
This story is written and edited by the Global South World team, you can contact us here.
