Africa in the news: African economic growth, Nigeria, and Burundi updates

By Christina Golubski, Mary Treacy

Sub-Saharan Africa economic growth update

This week, the World Bank announced that economic activity in sub-Saharan Africa is on course to contract by 2.8 percent in 2020, largely due to the COVID-19 pandemic. According to the World Bank, this contraction will be the most severe on record, with the region’s two biggest economies—Nigeria and South Africa—predicted to contract by 3.2 and 7.1 percent, respectively, this year. Indeed, Reuters reports that South Africa’s manufacturing output fell 5.4 percent year-on-year in March. Overall, economies across the region have been hit hard, with Zambia predicting it will fall short

Leave a Reply