AFDB Report Recommends Green Incentives to Harness 4.3% GDP Growth Forecast in Africa

Africa is set to be the second-fastest growing region after Asia, but headwinds remain, according to the AfDB’s African Economic Outlook report. The recently launched report forecasts that Africa will consolidate its post-Covid-19 pandemic recovery to 4.3% GDP growth in 2024 from 3.8% in 2022. Some 22 countries will record growth rates above 5%, it says. To capitalise on this potential growth, the AfDB recommends robust policy actions, including incentivizing green industries and providing guarantees at scale to de-risk private sector investments in managing natural capital across the continent.

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