Home News 18 African Countries Grew GDP Above 5% In 2017—afdb

18 African Countries Grew GDP Above 5% In 2017—afdb

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President of the African Development Bank Group (AfDB), Mr Akinwumi Adesina, has revealed that in 2017, the average GDP growth in Africa was 3.6 percent, up from 2.2 percent in 2016.

According to him, last year, 18 African countries grew above 5 percent in 2017, and 37 others above 3 percent.

Mr Adesina further disclosed the average GDP growth is projected to accelerate to 4.1 percent in 2018 and 2019.

The AfDB boss rolled out these figures when the bank hosted the annual luncheon of diplomats accredited to Côte d’Ivoire in Abidjan on Tuesday.

During the event, he urged the bank’s member countries to contribute to the 7th General Capital Increase to enable the institution to realise its development objectives.

Welcoming the diplomats on behalf of the Board of Directors, management and staff of the Bank Group, Mr Adesina shared perspectives on the performance of African economies, updated them on the institution’s activities and highlighted emerging economic issues for the Bank and the continent.

“The African Development Bank, your Bank, is reforming, innovating, leading and delivering more for Africa than ever before.

“With the strong support for a General Capital Increase by our Board of Directors, Governors of the Bank, and you, the Ambassadors representing our shareholder countries, Africa will indeed experience a much brighter and impactful future,” he said.

Mr Adesina said the continent remains resilient to global economic headwinds and climate shocks as related by the Bank’s 2018 Africa Economic Outlook published in Abidjan on January 17, 2018.

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