Sub Saharan Africa Economic Forecast

Economic Snapshot for Sub-Saharan Africa

October 21, 2021

Regional economy to ease in 2022

Regional GDP growth will ease slightly next year on a tougher base of comparison. However, domestic and foreign demand should firm as restrictions are rolled back amid a progressing vaccination drive. Upbeat commodity prices and greater investment should further support momentum. That said, strained public finances, social unrest and higher unemployment cloud the outlook.

Inflation to moderate in 2022

Preliminary data showed that regional inflation rose to 12.2% in September from 11.9% in August. Stronger price pressures in Angola, Ethiopia and Kenya offset cooling inflation in Botswana and Nigeria. Normalizing economic conditions and easing supply-side issues should see regional inflation moderate next year. Currency weakness and instability pose upside risks. 


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