• Saturday, November 16, 2024
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BusinessDay

Why Growth in Sub-Saharan Africa is Splitting into Two Paths

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Economic growth in Sub-Saharan Africa is diverging, with countries like Ethiopia, Rwanda, and Senegal experiencing rapid growth, according to the IMF In fact, nine of the world’s top 20 fastest-growing economies are in this region. However, the IMF warns that this high growth rate hides a different reality. Many resource-rich countries in Sub-Saharan Africa, including Nigeria, Angola, and Chad, are growing much more slowly. This difference in growth rates, known as a "two-track growth pattern," has widened since 2014. Before then, coun