Browsing: African countries with largest GDPs

Flight prices in Africa are under debt, stakeholders want airlines operating within the continent to lower fares. Photo/CapitalNews

African countries open to cheaper flights to boost domestic travel  

Industry and Trade
  • EAC Partner States need to fast-track implementation regulations on the liberalisation of air transport
  • An extra 155,000 jobs and US$1.3 billion in annual GDP would be created if 12 countries opened their skies.
  • Africa has formed the Single African Air Transport Market (SAATM) to spearhead a single unified air transport market to advance the liberalization of civil aviation in Africa.

In the spirit of creating a single market and increased integration of Africa’s 54 nations, stakeholders want airlines operating within the continent to lower fares.

Recent research by the International Air Transport Association (IATA) showed that ‘if just 12 key Africa countries opened their markets and increased connectivity, an extra 155,000 jobs and US$1.3 billion in annual GDP would be created in those countries.’

These are significant figures by any measure and IATA, the trade association for the world’s airlines, representing some 260 members, maintains that lowering flight prices in …

Nairobi City Center

Kenya’s economic recovery remains strong, although slowed by drought and inflation – World Bank

Countries
  • Kenya’s GDP, powered by broad-based growth in services and industry, increased by 6 per cent year-over-year in the first half of 2022
  • The agricultural sector’s performed poorer, with a 1.5 per cent contraction in the first half of 2022
  • Kenya’s medium-term growth prospects remain favourable, with GDP expected to expand by an average of 5.2 per cent in 2023–2024

Kenya’s gross domestic product (GDP), powered by broad-based growth in services and industry, increased by 6 per cent year-over-year in the first half of 2022.

The post-COVID -19 recovery was hampered by fluctuations in global commodity prices, a protracted drought in the country, and apprehension over the general elections in 2022.

According to the 26th issue of the Kenya Economic Update (KEU), households throughout the nation have been impacted by the drought and rising living expenses.

Due to the agriculture sector’s poor performance, which resulted in a 1.5 per …

Nigeria has rich oil reserves making it an attractive investment destination.https://theexchange.africa/

List of best African countries to invest in

Investing

Africa has unlimited opportunities as it’s rich in natural resources such as arable land, water, oil, natural gas, minerals, forests and wildlife.

The continent is home to some of the fastest-growing economies in the world.

According to the World Economic Forum, Africa has a fast-growing youth population with urbanisation expected to drive over 50% of Africans to cities by 2050.

The youthful population constitutes a formidable market.

List of best African countries to invest in according to Africa Business Insider.

  1. Nigeria

The West African country is the most populous country in the continent with over 216 million people.

In 2021, Nigeria’s Gross Domestic Product (GDP) stood at $514 billion (Sh and was ranked as the largest economy according to Statista.

Nigeria’s National Bureau of Statistics stated that the country’s GDP expanded by 4.03% in quarter three of 2021.

Nigeria has rich natural resources with its agriculture, natural gas, and crude …