Africa’s Economy Shows Signs of Recovery

(2 Minutes Read)

Experts also feel that education and technology should be two pillars on which the future traction of development depends. The continent should deploy more and more labour-intensive manufacturing to absorb teeming millions. Focus on technology and digitization can help revamp some of the lost craftsmanship on the continent, besides providing more avenues for self-employment.   

Africa’s economic outlook offers hope amidst inflation, rising debt, and climate-related challenges. According to recent projections, the continent’s GDP growth is expected to climb from 3.4% in 2024 to 3.7% in 2025, buoyed by improvements in key regional economies such as Nigeria, Kenya, and South Africa.

This modest recovery is driven by structural reforms, increased investment in critical sectors, and a rebound in commodity prices. However, experts caution that achieving sustainable growth will require addressing systemic issues such as youth unemployment, infrastructure deficits, and the climate crisis.

Experts believe that to sustain growth and to ensure it is accompanied by employment growth, countries in the continent need to take several development measures. Foremost is giving importance to agriculture, a neglected area since mining has become a major economic activity in some of the African countries.

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Experts also feel that education and technology should be two pillars on which the future traction of development depends. The continent should deploy more and more labour-intensive manufacturing to absorb teeming millions. Focus on technology and digitisation can help revamp some of the lost craftsmanship on the continent, besides providing more avenues for self-employment.