- Business Insider Africa presents the top 10 countries set to contribute the most to Africa’s GDP growth in 2024.
- This list is courtesy of a report by the World Bank.
- Nigeria ranks number 1 on this list.
Top 10 countries set to contribute the most to Africa’s GDP growth in 2024
Africa's economic landscape is undergoing a dramatic change in terms of economic growth, with some nations emerging as important drivers of Gross Domestic Product (GDP) growth in 2024. As the global economy recovers from recent problems, these countries are taking advantage of new trends to develop the African economy. They are doing so through numerous means including growing the continent’s overall GDP.
Top 10 countries set to contribute the most to Africa’s GDP growth in 2024
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A report by the World Bank titled “Addressing Inequality to Revitalize Growth and Alleviate Poverty in Africa," notes that the recovery in Sub-Saharan Africa in 2024 is mostly due to the region's major nations, whose growth rates are lower than those of the previous two decades.
“Sub-Saharan Africa’s rebound in 2024 is driven by large countries in the region recording growth rates that are lower than their performance over the first two decades of this century,” the report reads in part.
“In 2024, growth is expected to accelerate in nearly 70 percent of Sub-Saharan African countries (32 countries). However, growth rates are below their average growth in 2000–19 in about half of them (17 countries). The expansion of economic activity in the 10 largest countries in the region explains about 80 percent of the regional growth in 2024,” the report adds.
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It goes without saying that some African countries have a major impact on GDP growth and the future of Africa as the continent navigates its route toward sustainable development and economic success.
These nations effectively utilize their unique strengths, overcome obstacles, and seize opportunities, and in doing so will be crucial in assisting Africa's transition to inclusive development and prosperity in 2024 and beyond.
With that said, here are the top 10 countries set to contribute the most to Africa’s GDP growth during the year.
GDP Contribution of African countries to Africa: World Bank
World Bank
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PS: This list is focused on Sub-Saharan Africa, therefore African countries in the Mena region such as Egypt, Morocco, Algeria and other North African states are excluded. Also, other SSA countries are set to contribute a total of 0.71% to the continent's over regional GDP growth in 2024.
| Rank | Country | Contribution to SSA GDP |
|---|---|---|
| 1. | Nigeria | 0.88% |
| 2. | Ethiopia | 0.39% |
| 3. | Kenya | 0.25% |
| 4. | Côte d'Ivoire | 0.23% |
| 5. | South Africa | 0.21% |
| 6, | Tanzania | 0.19% |
| 7. | Democratic Republic of Congo | 0.17% |
| 8. | Angola | 0.15% |
| 9. | Uganda | 0.12% |
| 10. | Ghana | 0.10% |
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