In 2019, the world recorded an economic growth rate of 4%. All these gains were lost in 2020. Indeed, because of the Covid-19 pandemic, the contraction amounted to no less than 4.3%, a completely new economic situation in peacetime. However, notwithstanding all these, 22 countries have succeeded in creating wealth, 12 of them from Africa.
Accordingly, the following countries saw their economies grow by varying percentages: Guinea (5.2%), Côte d’Ivoire (1.8%), Ghana (1.1%), Benin (2%), Niger (1%), Egypt (3.6%), South Sudan (8.3%), Ethiopia, Uganda (2.9%), Burundi, Tanzania (2.5%) and Malawi (1 , 3%). The countries exist side-by-side other countries such as China, Vietnam, Guyana, Turkey, among others.
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Recession Africa 2020 Recession Africa 2020
In West Africa, while Guinea has the best performance, all eyes were on Ivory Coast. The real economic heart of French-speaking sub-Saharan Africa, the country has retained the confidence of international investors. Its economy remains as attractive as ever and its management of the crisis has been praised.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer