It is no secret that some of the world’s fastest-growing economies are found in sub-Saharan Africa. A long time centre of economic activity, sub-Saharan Africa is home to many different companies and sectors. New economic forecasts for sub-Saharan Africa have recently been revealed by the International Monetary Fund (IMF), and the findings are unquestionably important.

These forecasts could change based on several variables, including alterations in the political and economic climates worldwide. One thing is certain, though: the economies of sub-Saharan Africa are ones to watch, and they will continue to expand in the years to come.

The top 5 economies in sub-Saharan Africa to watch are listed below.

NIGERIA – As the largest economy in Africa, Nigeria continues to lead the economic rankings for sub-Saharan Africa. Nigeria’s GDP is expected to reach $574 billion this year, according to the IMF. This is a remarkable number, and the economy of Nigeria will probably keep expanding in the years to come.

SOUTH AFRICA: With a GDP of $422 billion this year, South Africa will continue to be the second-largest economy in sub-Saharan Africa, according to the IMF. This is a remarkable number, and the economy of South Africa will probably keep expanding in the years to come.

ANGOLA- With a return to growth attributed to rising oil prices, Angola is poised to restore its position as the third-largest economy in sub-Saharan Africa. The second-largest oil producer on the continent, after Nigeria, Angola also produces a sizable amount of rough diamonds. The IMF projects that Angola’s GDP would increase by 8.6% and total $135 billion this year. This is a major improvement over prior years, and the economy of Angola will probably continue to expand in the years to come.

ETHIOPIA – The IMF predicts that Ethiopia will soon overtake Kenya as the continent’s fourth-largest economy. The nation’s violent strife has subsided, and ambitious economic reform initiatives to open up one of Africa’s most closed economies have continued. Ethiopia’s GDP would increase by 13.5% this year, according to the IMF, reaching $126.2 billion. This is a significant number, and Ethiopia’s economy is probably going to keep expanding in the years to come.

KENYA – The IMF predicts that Kenya’s GDP will grow at a slower rate of 2.4% this year as a result of the Covid-19 pandemic’s aftereffects, a drought, election-related anxiety, and the disruption of international supply chains. Kenya’s GDP is expected to hit $117.6 billion this year, trailing just Angola and Ethiopia, according to the IMF. Kenya’s economy remains one of the most important ones in the area to observe despite this slower development.

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