In 2024, facing the international environment of rising protectionism and frequent geopolitical conflicts, the overall African economy remains stable. This year, African countries achieved results in optimizing and upgrading their economic structure through deepening internal reforms and strengthening international cooperation, and made progress in infrastructure construction, technological innovation, agriculture, and other fields. This year, China Africa cooperation has become a highlight. Bilateral relations have been upgraded in quality, cooperation continues to deepen, providing more financial, technological, and experiential support to Africa, and bringing new opportunities for African economic development. The trend of steady growth is improving. In 2024, the African economy will maintain steady growth. The "2024 Africa Economic Outlook" report released by the African Development Bank predicts that Africa's economic growth rate will rise to 3.7% in 2024, higher than the global average growth rate of 3.2%, and is expected to rise to 4.3% in 2025. In the top 20 fastest-growing economies in the world by 2024, African countries will occupy 10 seats. There are differences in the economic development situation between regions on the African continent, but overall there is a growing trend, with East and West Africa being the most dynamic. The report "Africa Economic Outlook 2024" shows that thanks to infrastructure investment and deepening regional cooperation, the East African region continues to lead the African economy, with growth rates expected to significantly increase from 1.5% in 2023 to 4.9% in 2024. The economic growth rate in West Africa is expected to reach 4.2% in 2024, higher than the 3.6% in 2023. On March 2, 2024, in Lagos, Nigeria, a light rail blue line train entered the dock station (drone photo). Photo by Han Xu, Xinhua News Agency: African countries with relatively diversified economic structures and non resource dependent economies will perform outstandingly in 2024. According to data from the International Monetary Fund (IMF), the Rwandan economy is expected to grow by 7% in 2024, driven by regional integration and infrastructure investment; Thanks to strong investments in telecommunications, manufacturing, and agricultural exports, the economy of Cote d'Ivoire is expected to grow by 6.5%; Driven by agriculture and manufacturing, Ethiopia is expected to grow by 6.1%; Due to the recovery of agriculture and tourism, Kenya's economic growth rate is expected to reach 5%. Relatively speaking, resource dependent countries have performed poorly, such as Nigeria, which is expected to grow by 2.9% due to low oil production and reform pains. In 2024, the diversification of economic development in Africa will become increasingly evident. Regional economic integration, digital transformation, technological innovation, and talent cultivation have become important driving forces for promoting the improvement of the African economy. Significant progress has been made in the construction of the African Continental Free Trade Zone. At present, the African Continental Free Trade Agreement has been implemented in countries such as Cameroon, South Africa, and Ghana, creating new opportunities for economic growth in African countries. It is predicted that after the launch of the free trade zone, the intra African trade volume is expected to increase significantly from $192.2 billion in 2023 to $520 billion in 2030. On July 24, 2024, workers monitored the production of sugar in a sugar factory in the Frak district of eastern Mauritius. Xinhua News Agency reporter Ling Xin's photo shows that digital transformation has become another major highlight of Africa's economic growth. African countries are actively building digital infrastructure to promote the vigorous development of digital economy and e-commerce. According to the data of the International Telecommunication Union, the number of Internet users on the African continent has increased from 181 million in 2014 to nearly 646 million at present, and is expected to reach more than 1.1 billion in 2029, creating favorable conditions for Africa's deep integration into the global economic system. With the digital transformation, mobile payments are rapidly rising in Africa. The 2024 industry report released by the Information Organization of the Global System for Mobile Communications Association shows that in 2023, the number of registered accounts for electronic currency users in Africa reached 856 million, accounting for 49% of the global registered accounts, and new accounts accounted for more than 70% of the global total. In addition, African countries have effectively promoted industrial upgrading and technological innovation through measures such as establishing research funds, building science and technology parks, and attracting overseas talents to return. Cooperation with China provides lasting momentum, and the overall African economy is showing a steady growth trend, but still faces multiple challenges. The IMF pointed out that factors such as unstable global economic environment, high inflation, rising borrowing costs, climate disasters, and political turmoil are exerting sustained pressure on the economic prospects of Africa. Kenyan economist James Hickswati emphasized that Africa's infrastructure construction is relatively lagging behind, and the shortcomings in areas such as transportation, communication, and energy are constraining further economic development. In terms of regional economic integration, trade barriers and disputes between African countries still exist, hindering the integration of regional markets. Hikwati pointed out that issues such as the milk dispute between Kenya and Uganda highlight the inward looking tendencies of each country under economic pressure. In response to challenges, African countries actively seek to strengthen cooperation with BRICS countries and other emerging market economies, strive to improve their economic governance capabilities, and enhance their ability to resist external risks. During this process, China Africa cooperation played an important role. China continues to increase its support for regional connectivity in Africa, empowering Africa's development in all aspects such as infrastructure construction, technology, talent, and markets. This is an aerial photograph of the Karuma Hydroelectric Power Station in Uganda, located on the White Nile River (taken on December 14, 2023). In 2024, Egypt and Ethiopia became official members of the BRICS, expanding cooperation with China through the BRICS mechanism. The Beijing summit of the Forum on China-Africa Cooperation of the Forum on China Africa Cooperation held in September further consolidated the foundation of China Africa cooperation. The 7th CIIE held in November attracted numerous African companies to participate, opening up channels for African goods to enter the global supply chain. Starting from December 1st, China will grant 100% tariff free treatment to all least developed countries, including 33 African countries, that have established diplomatic relations with China, providing opportunities for the development of African industries. All units of the Karuma Hydropower Station in Uganda have achieved the goal of power generation and grid connection, the first phase of the Lagos Light Rail Red Line Project in Nigeria has been opened to traffic, and the main body of the Swak Dam in Kenya has been basically completed... Under the framework of mechanisms such as the Forum on China Africa Cooperation and the "the Belt and Road" initiative, China and Africa have worked together to promote infrastructure construction, with results spread across the African continent. (New Society)