Sub-Saharan Africa’s growth dragged down by continent’s heavyweights: World Bank

The World Bank predicts that economic growth in sub-Saharan Africa will slow down this year, largely due to declines in South Africa, Nigeria, and Angola. The region’s growth is expected to be 2.5% in 2023, lower than the 3.6% recorded last year. This slowdown in growth has resulted in slow poverty reduction and job growth, impacting the region’s poorest and most vulnerable populations. Additionally, factors such as population increase, energy crises, internal conflicts, and mounting debt contribute to the challenges faced by the African economies.