Africa to grow 3.7% this year – AfDB

Africa’s economy is likely to grow 3.7 per cent this year, the African Development Bank (AfDB) said on Monday.

Launching its latest regional economic outlook in Lusaka, AfDB said this was due to resilient private consumption and investment which had offset the effect of a slump in commodity prices and global headwinds.

The AfDB also said growth could accelerate to 4.5 per cent next year if commodity prices recovered and the global economy strengthened.