STC on Finance, Monetary Affairs, Economic Planning and Integration

Statistics show that since 2000, Africa’s GDP has grown by 4.6% annually, on average. Africa’s domestic demand has been the key driver of the growth performance accounting for 69% of annual growth between 2000 and 2018. This is reflected in the demand for processed food which is growing 1.5 times faster than the global average, while the demand for many other products such as vehicles, manufactured metals and industrial machinery, is expanding faster than the global average, making it a good opportunity for local firms to grow in size and productivity.