10 African countries with the least growth projection for 2024
Low economic growth estimates can create substantial hurdles for African countries, impeding their development goals while perpetuating the probability of sustained poverty and inequality.
A few African countries struggle with this issue despite the continent being the fastest-growing economy outside of Asia. With 54 countries on the continent, some have very high projections, while some are not as fortunate.
Economic growth is an essential component of a country’s development, propelling progress in living conditions, infrastructure, and social welfare. However, some African countries struggle with poor economic growth projections, which can have severe and far-reaching implications.
Some African countries struggle with a myriad of challenges that hinder their economic growth prospects. These challenges range from political instability to inadequate infrastructure, limited access to education and healthcare, corruption, and dependence on commodity exports.
Such impediments create a vicious cycle wherein low economic growth projections perpetuate existing problems, further exacerbating poverty and inequality.
A new report by the African Development Bank titled Macroeconomic Performance and Outlook (MEO), which was released recently noted that this is hardly the reality as African countries dominate the list of fastest-growing economies in the world.
A more thorough assessment of Africa’s economic reality shows that it is the second fastest developing continent of any in the world, however, given its diversity, with 54 countries, there are regions on the continent that are slow to conform to the continent’s rapidly developing pace.
With that said, below, are the 10 African countries with the least growth projection for 2024, according to the African Development Bank.
| Rank | Country | Growth projection 2024 |
|---|---|---|
| 1. | Equatorial Guinea | -5.1% |
| 2. | Sudan | -1.7% |
| 3. | São Tomé and Príncipe | 0.9% |
| 4. | South Africa | 1.1% |
| 5. | Central African Republic | 2.0% |
| 6. | Tunisia | 2.1% |
| 7. | Gabon | 2.4% |
| 8. | Lesotho | 2.5% |
| 9. | Namibia | 2.6% |
| 10. | Ghana | 2.8% |
