The Economist Intelligence Unit (EIU) predicts a victory for the National Democratic Congress (NDC) in Ghana’s 2024 elections, attributing it to worsening living conditions, limited job opportunities, and inadequate public services.
The EIU also anticipates a closely contested legislative election in South Africa, with the ANC possibly falling short of a majority. In Tunisia, an orchestrated presidential win amid an authoritarian crackdown is expected to fuel civil unrest.
On a broader scale, the EIU forecasts Africa as the world’s second-fastest-growing region in 2024, following Asia. Nearly all African nations are projected to experience positive economic growth, with Sudan and Equatorial Guinea being exceptions.
East Africa, particularly countries like Ethiopia and Kenya, is anticipated to lead in economic dynamism, driven by a robust services sector encompassing travel, tourism, logistics, finance, and telecommunications.
Resource-rich economies and major commodity exporters are expected to thrive, buoyed by high demand and prices for Africa’s hydrocarbons, mining outputs, and agricultural products.
The EIU emphasizes substantial investments flowing into Africa’s energy projects, minerals, and metals crucial for global energy transition and digital transformation.
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