The region's economy is set to expand 3.4% this year and 3.8% in 2024 as falling inflation boosts private consumption, up from 2.4% in 2023, the World Bank said in its biannual Africa's Pulse report.

Many countries in Sub-Saharan Africa were hit hard by the shocks of COVID-19 and Russia's war in Ukraine, which pushed up inflation at the same time as rising global interest rates made borrowing prohibitively expensive. Drought and conflict have also affected swathes of the region.

"Growth is set to bounce back in Sub-Saharan Africa but the recovery is still fragile," the report said.

"The pace of economic expansion in the region remains slow and insufficient to have a significant effect on poverty reduction."

"Per capita GDP growth of 1% is associated with poverty reduction of only 1% in the region, compared to 2.5% in the rest of the world."

South Africa's growth rate is forecast to double in 2024, but just to 1.2%, while Angola's is set to pick up to 2.8% from 0.8% last year, driven mainly by the non-oil sector amid falling oil production.

--Reuters-