Central Africa showcased a gross domestic product (GDP) growth of 5 per cent in 2022, surpassing the previous year's 3.4 per cent, according to the Central African Economic Outlook 2023 report released by the African Development Bank (AfDB). Central Africa outperformed in 2022 with a 5 per cent GDP growth, surpassing the African average, per the AfDB's report. Notably, the Democratic Republic of Congo played a significant role at the intraregional level, registering an impressive 8.5 per cent growth. Central Africa requires approximately $128 billion from 2020 to 2030, averaging $11.6 billion annually, to fund green growth and sustainable development. To drive future success, Central African nations need to pioneer innovative funding avenues to lure private-sector investment.

Source: The North Africa Journal August 08, 2023 06:37 UTC