Kenya Tops Angola as Sub-Saharan Africa's No. 3 Economy

Business: Kenya Tops Angola as Sub-Saharan Africa’s No. 3 Economy

Last updated on September 11th, 2021 at 02:45 pm

Kenya surpassed Angola as sub-Saharan Africa’s third-largest economy in dollar terms, according to International Monetary Fund estimates.

Angola has contracted every year since 2016 as oil output declined, and the kwanza was devalued in 2019 while Kenya’s shilling held steady.

The coronavirus pandemic and restrictions to limit its spread will probably see Angola’s gross domestic product contract 1.4% in 2020, while Kenya’s is projected to grow by 1%, according to the IMF.