Macroeconomic Analysis and Comparison of Some Selected Countries in Africa

With an estimation that over half of global population growth through 2050 will come from Africa (UN Estimates), the continent has the world’s fastest growing population. The continent is a 2.49 trillion dollars economy in terms of GDP (a total of 54 countries) and it houses around 1.2 billion people. The aim of this research is therefore to provide macroeconomic analysis of four countries (Nigeria, Kenya, Egypt and South Africa) given the fact that they constitute the largest markets of Financial Technology in Africa.

The World, Africa, West Africa and Nigeria’s Economy in 2018

In 2018, the International Monetary Fund (IMF) put the value of all goods and services produced in the world at $84.74 trillion with the United States as the largest economy in the world at $20.49 trillion which is about 51 times the size of Nigeria’s GDP (Africa’s largest economy).
This research therefore aims to give a break-down of the world economy in 2018 with specific focus on Lagos State, West Africa and Africa while giving insights into comparing different economies.

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