The COVID-19 pandemic has had a severe effect on the global economy, but the economy in sub-Saharan Africa made a surprising rebound in 2021. Though this growth is expected to slow this year amid the war in Ukraine, the International Monetary Fund still forecasts growth of 3.8% in 2022 and 4.0% in 2023.
Africa’s population is growing steadily as well and is expected to double by 2050.
In 2021, foreign direct investment in African countries hit a record $83 billion, with the technology sector reportedly growing faster here than any other region. In fact, tech start-ups raised a total of $5.2 billion via 681 equity rounds, up a staggering 92% compared with 359 rounds in 2020, according to Partech.
Here are some charts showing where Africa stands today.
