Africa is still rising—mainly thanks to East Africa.
While the continent’s major economies were hit by the fall in commodity prices in 2016, Africa retained its position as the second-fastest growing continent globally recording an average of 2.2% GDP growth, behind only South Asia, according to the African Development Bank Group (AfDB).
Much of Africa’s growth in 2016, AfDB says, was driven by East Africa where several countries recorded “strong performances.” Overall, of the continent’s sub-regions, East Africa posted the highest growth rate with 5.3%, led by Ethiopia.
