(Ecofin Agency) - The World Bank now expects Sub-Saharan Africa's economy to grow by 3% in 2024, down from the 3.4% projected in April. In a report released on October 14, the institution points to the collapse of Sudan's economy as a major factor behind this downgrade. 

However, the World Bank remains optimistic about a potential rebound, citing a recovery in private consumption and easing inflation in several countries. East and Southern Africa show encouraging signs, with growth expected to reach 2.2% in 2024, up from a difficult 1.7% in 2023. But large economies like Angola and South Africa continue to weigh down overall performance. Excluding these two countries, the region’s growth could be stronger, around 2.6% in 2024.

The outlook is slightly better for West and Central Africa. Economic activity is projected to rise from 3.3% in 2023 to 3.9% in 2024. Without Nigeria, the region’s economic engine, growth could hit 4.8%. 

Seventeen countries are expected to see growth of 5% or higher, with 27 nations posting better performance than in the previous year. Côte d'Ivoire (6.5%), Niger (5.7%), and Senegal (6.1%) are among the standout economies.

Despite these promising figures, the World Bank warns that growth prospects remain fragile. Key risks include armed conflicts and extreme weather events like droughts, floods, and cyclones.

In response, African countries are pushing reforms to foster more sustainable and inclusive growth. Anti-corruption efforts, infrastructure modernization, and climate change adaptation are now central to economic strategies.

The medium-term outlook remains positive. The World Bank forecasts an average growth of 4% for 2025-2026, slightly up from the previous estimate of 3.5%. This improvement could be driven by lower inflation in many countries, paving the way for economic recovery.