THE world's eyes have turned to Africa, attracted by its economic performance.

The gross domestic product (GDP) growth of countries in sub-Saharan Africa is expected to moderate throughout 2023, with the regional average falling to 3.5%, from 3.6% in 2022 and below the 2010 to 2019 average of 4.1%, credit risk and strategy decisions research company Fitch Solutions Country Risk and Industry Research country risk head Jane Morley said on April 13.

Stagnating incomes in sub-Saharan Africa’s resource-intensive economies necessitate more effective fiscal management and broad-based structural reforms

The International Monetary Fund (IMF) has nudged down below 1% its growth forecasts for South Africa for 2024, citing significant setbacks in the agricultural sector as a key factor affecting the nation’s economic outlook.

Sub-Saharan Africa is expected to grow at about 4.4% this year, making it one of the world’s fastest-growing economic regions.