Exploring the Variances in Africa’s Economic Growth: A Tale of Four Regions

East Africa is anticipated to have the highest performance, surpassing other regions. Central Africa is projected to experience growth of 4.7% in 2022, up from 3.6% in 2021. West Africa's growth fell to 3.6% in 2022, down from 4.4% in 2021. In the medium term, it is anticipated to increase, hitting 4.1% in 2023. In 2022, growth in Southern Africa is projected to continue modest, falling to 2.5% from 4.3% in 2021. The slowing of Africa's average growth conceals cross-regional variances, which primarily reflect disparities in the structure of economies, commodity dependency, differential impact of global exogenous shocks, and domestic policy responses to buffer the impact of these shocks. According to the new biannual publication of the African Development Bank Group, Africa's Macroeconomic Performance and Forecast, East Africa is anticipated to have the highest performance, surpassing other regions. This, as economies in the region continue to implement post-Covid-19 epidemic recovery initiatives, such as policies to promote private sector growth. After two years of global shocks brought on by the pandemic and the Russia-Ukraine war, which interrupted the global supply chain, and in the midst of soaring global inflation, African countries are exploring different options to sail through the economic turmoil.