Countries across the world are struggling to navigate a difficult global economic landscape characterized by persistent disruptions – from structural macroeconomic weaknesses, geopolitical tensions, the increasing effects of climate change, health pandemics, and trade and technology wars. For African countries, rising domestic, regional, and global uncertainties continue to weigh on economic performance and outlook to growth in the short to medium term. 

Average real gross domestic product (GDP) growth in Africa was thus estimated at 3.2 percent in 2024, only modestly higher than the 3.0 percent recorded in 2023. This marginal improvement shows that economic growth for the continent remains fragile and is less than half the minimum of 7 percent considered necessary to lift millions of people out of poverty.

Report by the African Development Bank