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Vol 64 No 22

Published 2nd November 2023

Debt and geopolitics slow Africa's growth

The continent's economic juggernauts – Egypt, Nigeria and South Africa – are stuttering while smaller and nimbler economies are growing far faster

Concerns about growth and investment levels in Africa are deepening due to much slower growth in China, capital flight to western economies and the risks that a wider war in the Middle East will tighten oil supplies, stoke inflation and disrupt trade routes more widely. Before the Israel-Hamas war escalated in October, the IMF and World Bank had cut their 2023 growth projections for the continent but held out hopes of economic expansion next year.

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