Business News of Friday, 31 January 2020Source: www.classfmonline.comEast Africa beats rest of continent as fastest growing region - AfDB ResearchGhana actually was tipped as the fastest growing economy in West AfricaEast Africa maintained its lead as the continent’s fastest growing region, with average growth estimated at 5.0% in 2019, according to the African Development Bank Research dubbed “Economic Outlook 2020”. Ghana actually was tipped as the fastest growing economy in West Africa and second in Sub Saharan Africa with 7% growth. Southern Africa’s growth slowed from 1.2% to 0.7%, primarily due to challenges in the region’s biggest economy, South Africa and was last on the African continent. Economic growth in Africa is estimated at 3.4% for 2019, about the same as in 2018. Also, non-resource-intensive countries have driven the widening gap in the continent’s average and thus the growing current account deficits.

Source: GhanaWeb January 31, 2020 17:48 UTC