While Kenya with a 5.3 per cent projected
Gross Domestic Product (GDP) growth missed out, the list featured East African
countries including neighbours Tanzania and Uganda.
Other countries in the region that made the
list included; Rwanda, the Democratic Republic of Congo, and Ethiopia.
Due to the presence of East African countries
in the list, EIU predicted that the bloc would be a key cog in driving
Africa’s prosperity.
Kenya was, however, mentioned as part of the
countries that would play a key role in the continent’s transformation.
“East Africa, encompassing Ethiopia, Kenya,
Uganda, Rwanda, Tanzania, and the DRC, will once again prove to be the most
dynamic part of the continent in terms of economic growth,” the report
revealed.
“The services sector will continue to play a
major role in driving the economies of East Africa, including resurgent travel,
tourism and hospitality, resilient transport and logistics, and vibrant
financial and telecommunications industries.”
Additionally, it was reported that all African
countries except Sudan and Equatorial Guinea would register positive
growth.
This will make Africa the second fastest
growing continent economic-wise according to the EIU report.
“We forecast that Africa will be the world’s
second-fastest-growing major region in 2024, just behind Asia, which will be
propelled by China and India,” the report read in part.
Other African countries in the top 20 World's
fastest-growing economies in 2024 will be Senegal, Mauritania, Libya, Ivory
Coast, Benin, Mozambique, and Togo.
The rest of the nations that make the top 20
list are Guyana, Macay, Anguilla, Fiji, Cambodia, Samoa, Bangladesh, and
Maldives.
The impressive showing by African countries
was attributed to the resource-intensive nature of the economies and the
continent’s role as a major commodities exporter.
The Kenyan DAILY POST
.jpg)
.jpg)
0 Comments