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The growth potential in Africa’s five sleeper economies
Africa is a continent teeming with a youthful population. It is also undergoing swift urbanization and is rich in natural resources. According to the African Development Bank Group, it had 11 of the world’s 20 fastest-growing economies in 2024. The continent’s real gross domestic product (GDP) growth is projected to average 3.8 percent in 2024 and 4.2 percent in 2025, exceeding global averages of 2.9 percent and 3.2 percent, respectively. It will continue to be the second-fastest-growing region after Asia. Despite its potential, only a few of its 54 countries – such as Mauritius, Botswana and Seychelles – have consistently demonstrated strong economic performance over the years. While larger economies like South Africa and Nigeria face considerable challenges, several smaller nations have displayed promising growth trajectories. […]