AFRICAN ECONOMIC DEVELOPMENT PROSPECTS AFTER COVID-19

Abstract

In the wake of the Covid-19 pandemic, Africa’s economic development prospects are facing both challenges and opportunities. The pandemic has caused a severe economic recession, disrupted supply chains, increased unemployment and public debt. However, Africa is also witnessing strong recovery momentum, especially thanks to flexible macroeconomic policies, increased investment in digital infrastructure, renewable energy and processing industry. In addition, the African Continental Free Trade Area (AfCFTA) is expected to boost growth, facilitate intra-regional trade and attract foreign investment. Recovery also depends on the ability to control the pandemic, develop human resources and improve economic governance. The following article will analyze the impact of the pandemic on the regional economy and propose solutions to promote sustainable growth.