Africa’s Pulse: An Analysis of shaping Africa’s Economic Future

The October 2024 edition of Africa’s Pulse reports a fragile economic recovery in Sub-Saharan Africa, with growth projected at 3% in 2024, up from 2.4% in 2023, driven by increased private consumption and investment. Inflation is expected to decline from 7.1% in 2023 to 4.9% in 2024 and 4.6% in 2025–26 due to tighter monetary and fiscal policies, stabilized currencies, and eased supply chain disruptions. Fiscal balances are improving as governments cut expenditures and raise revenues, but high debt service costs remain a challenge. The region’s growth has been insufficient to reduce extreme poverty and boost prosperity, hindered by slow investment growth, conflicts, and climate change.

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