The AfDB has revised its growth projection for the African economy in 2024, lowering it from an initial 4.3% to 3.8%. For 2023, the growth forecast is set at 3.4%, attributed to slow post-COVID-19 recovery, climate change impacts, political instability, weak global growth, and high interest rates. Geopolitical risks, including recent coups in Africa, the Israel-Palestine conflict, and the ongoing Russia-Ukraine war, are also seen as key risks.