African Development Bank Group reported this week that Africa is the second fastest-growing region, after Asia. This comes as no surprise to anyone who has been paying attention to the almost universal push for investment in Africa. As the youngest and the second most populated continent, all roads lead there. The report highlighted 41 countries having a growth surge. East Africa is the fastest-growing region and will see the biggest jump in GDP. In light of Kenyan President William Ruto's visit to the United States last week, this makes sense. Kenya is the largest and most developed economy in East Africa and is likely a main catalyst for the growth of the region as a whole.
The only region which was projected to have a decline in GDP is North Africa. Central, West, and Southern Africa will be seeing increases based on the report from the African Development Bank Group. What will be vital to see is how the growth across Africa impacts the world. It's understood that people want to go to Africa and invest, but an aspect that isn't talked about enough is the influence a fast-growing continent with a diverse set of cultures may end up having on the outside world. Look at some of the key findings below.
