Re: Windfalls and safety nets
In 2021, African economies benefited from IMF financial support in two major ways: the disbursement of the unconditional facility and the SDR global safety net. These initiatives notwithstanding, SSA is forecast to achieve a modest growth of 3.8% in 2022 whilst facing a high level of inflation. Just as the economic recovery was showing signs of resilience, the fourth wave (Omicron) reared its ugly head with the prospects of derailing the gains of three consecutive quarters of growth. The good news is that, the fourth wave is not as deadly as the first three waves and is unlikely to cause as much damage.
Is Africa’s Octogenarian leadership holding it back?
African leaders are on the wheel chair while their followers are in the cradle. As it stands, the continent has the oldest generation of leaders and the youngest generation of followers. The latter has been a driving force behind the region’s accent to the coveted title of “digital hub”. The median age in Africa is 19.7 years compared to the global median age of 29.6 years. Conversely, the UN Development Programme estimates the average age of Africa’s leaders at 62. This dichotomy between the leadership and followers largely accounts for the inter-generational conflict between the two demographics.
This edition of the FDC Afriscope contains the SSA regional outlook for 2022, top five places to travel in Africa and other interesting pieces covering economics, politics, travel and entertainment.
Enjoy your read…