• Saturday, April 13, 2024
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Africa to see robust growth, needs more inclusion, says AfDB

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Sub-Saharan Africa is likely to show robust 5.8 percent growth this year, with domestic demand play­ing a key role, but business must do more to promote a more inclusive society, the African Development Bank (AfDB) said on Monday.

“We are looking at growth of around 5.8 percent this year in sub-Saharan Africa, exclud­ing South Africa it would be 6.2 percent”, AfDB president Donald Kaberuka told Reuters in an interview on the side­lines of a business briefing.

Growth prospects for the region were “slightly higher” than 2012, Kaberuka added.

The World Bank forecasts growth of 4.9 percent this year for sub-Saharan Africa, with South African growth seen at 2.7 percent.

Growth in Africa has been strong in the past few years, compared with ane­mic growth in much of the developed world. The World Bank sees global growth at 2.4 percent this year, with high income countries expected to see a rise of only 1.3 percent.