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Sub-Saharan Africa’s economy is expected to grow 4.2% this year, ratings agency Moody’s said, up from an estimated 3.8% in 2024.
The upbeat assessment is based on investments in energy and infrastructure as well as policies being implemented in Nigeria and South Africa — the continent’s two biggest economies — to improve their creditworthiness and growth prospects.
Moody’s also lifted the region’s credit outlook from negative to stable, a welcome boost after years of high food and commodity prices as a result of the pandemic and Russia’s full-scale invasion of Ukraine.
In North Africa, Egypt stood out for its mounting economic problems including rapid inflation and slowing traffic through the Suez Canal as a result of fighting in the Middle East.
