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African Economies Are Through the Worst of Downturn, AfDB Says

  • Economies are resilient, growth seen accelerating: Adesina
  • Nigeria, Angola economies knocked by lower oil prices

African economies are probably through the worst of their downturns and growth should accelerate next year, driven by investments in infrastructure and attempts to diversify from commodities, according to the African Development Bank.

The continent’s growth rate may be around 3.5 percent this year, rising to 3.7 percent in 2017 and 4.2 percent in 2018, Akinwumi Adesina, the AfDB’s president, said in an interview in New York on Tuesday.