Browsing: STOAN

  • Sub-Saharan Africa economy is expected to grow by 3.4 per cent in 2021.
  • With AfCFTA fully implemented, the World Bank projects that Africa’s gross production will rise by about US$212 billion above the baseline by 2035.
  • Manufacturing exports will increase by 62 percent and internal trade in manufactured goods increasing by 110 per cent by 2035.

Congestion in African ports costs the continent’s economy millions of dollars.

However, the African Continental Free Trade Area (AfCFTA) — a free trade area that went into effect on January 1, 2021 — has boosted the continent’s economic prospects.

According to the World Bank, the sub-Saharan Africa economy is expected to grow by 3.4 per cent in 2021.

Read: Africa’s best blue economy investment opportunities

As a result of these and other reasons, the region’s economy is anticipated to recover faster than expected, according to the analysis. Free trade is projected to play a …