By Daniel Edu
According to projections from the International Monetary Fund (IMF), South Africa is set to briefly overtake Nigeria and Egypt as the largest economy in Africa next year. The IMF’s World Economic Outlook anticipates South Africa’s gross domestic product to reach $401 billion in 2024, surpassing Nigeria’s $395 billion and Egypt’s $358 billion, all calculated at current prices.
However, this economic shift is expected to be a short-lived one, with South Africa projected to maintain its top position for only one year before slipping behind Nigeria once again. By 2026, the IMF report indicates that South Africa is likely to drop to the third position, trailing behind Egypt.
