• About
  • Advertise
  • Privacy Policy
  • Contact
Sunday, October 26, 2025
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result

Sub-Saharan Africa’s Growth Dragged Down By Continent’s Heavyweights -World Bank

M.Cby M.C
October 5, 2023
Reading Time: 3 mins read
M.Cby M.C
in Economy
0
Sub-Saharan Africa’s Growth Dragged Down By Continent’s Heavyweights -World Bank

In a statement released by the World Bank from a new research by the world financial body, economic growth in sub-Saharan Africa is forecast to decelerate this year due to declines in major economies such as South Africa, Nigeria, Ghana and Angola.

According to the research published by the bank, growth in the region is expected to decelerate to 2.5% in 2023 from 3.6% in the previous year before picking back up to a predicted 3.7% in the following year and 4.1% in 2025.

Since 2015, the area has not seen positive development in terms of GDP per capita since the economic activity of African nations has been unable to keep pace with the enormous rise in population throughout the continent. According to the World Bank’s “Africa’s Pulse” study, published twice yearly, around 12 million new workers are entering the African labor market each year. However, the patterns of growth that are now in place only provide 3 million employments in the formal sector.

RelatedPosts

Over GH¢70B Lost to Projects, GIP to Rescue

Ghana’s IMF Debt Surges to 2.59 Billion SDR — Experts Warn of Tightening Fiscal Space

Ghana Ranked the 8th Largest Economy in Africa

Andrew Dabalen, the bank’s Head Economist for Africa, reacting to the report, noted that “the region’s poorest and most vulnerable people continue to bear the economic brunt of this slowdown,” as weak growth translates into delayed poverty reduction and poor job growth. “The region’s poorest and most vulnerable people continue to bear the economic brunt of this slowdown,” he stated.

Growth Projections Revised Down

Compared to the estimates provided by the World Bank in April, the growth projections for more than half of the region’s countries, or 28 out of 48, have been revised downward. It is anticipated that the most developed economy on the African continent, South Africa, which is currently experiencing its greatest energy crisis on record, would only grow by 0.5% this year.

Economic growth in two of the world’s leading oil producers, Nigeria and Angola, is anticipated to decelerate to 2.9% and 1.3%, respectively.

ADVERTISEMENT

According to the World Bank, the Sudanese economy, which is now experiencing a severe internal armed war that has resulted in the destruction of infrastructure and has resulted in the economy coming to a complete stop, is likely to suffer a contraction of 12%. Meanwhile, if Sudan is to be removed from the equation, regional growth would come in at 3.1%.

According to the paper’s findings, “The region is projected to contract at an annual average rate per capita of 0.1% over 2015-2025, thus marking a lost decade of growth in the aftermath of the 2014-15 plunge in commodity prices.” Even while it is anticipated that inflation in sub-Saharan Africa will decrease to 7.3% this year from 9.3% in 2022, it will still be beyond the levels set by central banks in most countries.

In the meanwhile, recent military takeovers in Niger and Gabon, following in the footsteps of army takeovers in Guinea, Mali, and Burkina Faso, as well as armed conflicts in the Democratic Republic of the Congo, Ethiopia, Somalia, and Sudan, have generated further risk throughout Africa.

In addition, growing debt strains resources; in 2022, 31% of regional earnings will go toward paying interest and principal on loans.

READ ALSO: FAO Director-General Makes Urgent Global Call For Action On Food Security

Tags: GDP per capitaghanaNigeriaSouth AfricaSub-Saharan Africa’s Growth Dragged Down By Continent’s Heavyweights -World BankWorld Bank
Please login to join discussion
Previous Post

Mahama Assures Teachers Of Better Days Under The Next NDC Administration

Next Post

We Did Not Start The So-called War In Ukraine- Putin

Subscription Form

Related Posts

Over GH¢70B Lost to Projects, GIP to Rescue
Economy

Over GH¢70B Lost to Projects, GIP to Rescue

October 25, 2025
Ghana’s IMF Debt Surges to 2.59 Billion SDR — Experts Warn of Tightening Fiscal Space
Economy

Ghana’s IMF Debt Surges to 2.59 Billion SDR — Experts Warn of Tightening Fiscal Space

October 24, 2025
Ghana Ranked the 8th Largest Economy in Africa
Economy

Ghana Ranked the 8th Largest Economy in Africa

October 24, 2025
Finance Ministry Consults Ahead of 2026 Budget Reading
Economy

Finance Ministry Consults Ahead of 2026 Budget Reading

October 24, 2025
Inflation Pressure Returns: Producer Inflation Creeps to 3.2% as Businesses Battle Rising Input Costs
Economy

Inflation Pressure Returns: Producer Inflation Creeps to 3.2% as Businesses Battle Rising Input Costs

October 23, 2025
Government’s Bond Payments Drive Domestic Debt Surge — Now GH¢323.7bn and Counting
Economy

Government’s Bond Payments Drive Domestic Debt Surge — Now GH¢323.7bn and Counting

October 23, 2025
Individual Rights Must not be Sacrificed in Search for Justice – Fmr Deputy AG
General News

Individual Rights Must not be Sacrificed in Search for Justice – Fmr Deputy AG

by Emmanuel Tibila BoasahOctober 25, 2025
Senyo Hosi
General News

Hosi Calls for Ofori-Atta’s Prosecution in Absentia

by Silas Kafui AssemOctober 25, 2025
Ouattara Asserts Importance Of Voting As Ivory Coast Goes To The Polls
Africa

Ouattara Asserts Importance Of Voting As Ivory Coast Goes To The Polls

by Comfort AmpomaaOctober 25, 2025
Galamsey: NAIMOS Strikes in Hiawa Koofrom, Arrests Chinese Miners
Extractives/Energy

Galamsey: NAIMOS Strikes in Hiawa Koofrom, Arrests Chinese Miners

by Bless Banir YarayeOctober 25, 2025
Lawyer Bobbey Banson
General News

Tackle Party Financing and Asset Declaration to Curb Corruption — Lawyer Bobbie Banson

by evansjrOctober 25, 2025
Over GH¢70B Lost to Projects, GIP to Rescue
Economy

Over GH¢70B Lost to Projects, GIP to Rescue

by Michael Teye-Bio NaduteyOctober 25, 2025
Individual Rights Must not be Sacrificed in Search for Justice – Fmr Deputy AG
Senyo Hosi
Ouattara Asserts Importance Of Voting As Ivory Coast Goes To The Polls
Galamsey: NAIMOS Strikes in Hiawa Koofrom, Arrests Chinese Miners
Lawyer Bobbey Banson
Over GH¢70B Lost to Projects, GIP to Rescue

Recent News

Individual Rights Must not be Sacrificed in Search for Justice – Fmr Deputy AG

Individual Rights Must not be Sacrificed in Search for Justice – Fmr Deputy AG

October 25, 2025
Senyo Hosi

Hosi Calls for Ofori-Atta’s Prosecution in Absentia

October 25, 2025
Ouattara Asserts Importance Of Voting As Ivory Coast Goes To The Polls

Ouattara Asserts Importance Of Voting As Ivory Coast Goes To The Polls

October 25, 2025
Galamsey: NAIMOS Strikes in Hiawa Koofrom, Arrests Chinese Miners

Galamsey: NAIMOS Strikes in Hiawa Koofrom, Arrests Chinese Miners

October 25, 2025
Lawyer Bobbey Banson

Tackle Party Financing and Asset Declaration to Curb Corruption — Lawyer Bobbie Banson

October 25, 2025
Over GH¢70B Lost to Projects, GIP to Rescue

Over GH¢70B Lost to Projects, GIP to Rescue

October 25, 2025
The Vaultz News

Copyright © 2025 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2025 The Vaultz News. All rights reserved.

Discover the Details behind the story

Get an in-depth analysis of the news from our top editors

Enter your email address