The African economy should maintain its dynamism in 2025 with growth of 4%, but only 2% in terms of growth per capita, according to forecasts from the French Development Agency (AFD) presented Thursday, January 23
“Africa’s share is increasing in the world economy, which is growing by 2%,” explained Rémy Rioux, Director General of AFD, presenting the annual work on Africa published by the Agency.
Between the 55 countries of the continent, the situations are contrasted, with countries with diversified economies, whose growth is greater than countries whose economies are single-product or based on the exploitation of resources, specified Thomas Melonio, chief economist .
Growing countries
Among the growing countries, he cited Senegal which is benefiting from the start of gas exploitation, Niger with oil, the DRC and Zambia with copper as well as gold exporting countries such as Ghana or Mali, who benefit from the rise in the price of this safe haven.
The stock of debt has stabilized on the continent, with several countries which have been able to restructure their debt with the Paris Club, such as Chad, Ghana and Ethiopia. The AFD also notes an improvement in South Africa which has suffered fewer power cuts.
Rémy Rioux also assured that the AFD had not suffered on the ground from hostility towards French institutions. “That’s not what we experienced,” he said.
The AFD has committed 5 billion in investments in Africa in 2024, or 10% more than in 2023, mainly in the form of loans, he recalled. Last year it granted its largest loan ever to a company by providing 350 million euros to the pan-African group OCP, in Morocco, to improve the efficiency of fertilizers.
-Of its 14 billion annual investment, AFD is financed to the tune of 2 billion by the French state budget and raises 10 billion on the markets by issuing bonds, recalled Rémy Rioux.
The boss of the AFD deplored in November “the very sharp drop in resources” planned in the budget for 2025, which would “strongly distort” its activities deployed in 150 countries. Public development assistance is one of the hardest hit missions in the finance bill.
AFD has nearly 5,000 employees, including 2,500 on the ground.
Par The editorial staffEditorial Committee – Casablanca
