South Africa may overtake Nigeria as Africa’s biggest economy — IMF

THE International Monetary Fund has forecasted that South Africa could surpass Nigeria to become the largest economy in Africa.

According to the IMF’s World Economic Outlook, South Africa, which is one of the most industrialised countries in Africa, is projected to approach a gross domestic product (GDP) of $401 billion by 2024.

In contrast, the IMF’s calculations suggest that Nigeria and Egypt, based on current prices, have GDPs of $395 billion and $358 billion, respectively.

The IMF also anticipates that South Africa will briefly surpass Nigeria, the most populous African nation, for a year before falling behind once again.