Africa to grow 3.7 percent this year, 4.5 percent in 2017: AfDB

Africa's economy is likely to grow 3.7 percent this year as resilient private consumption and investment offsets the effect of a slump in commodity prices and global headwinds, the African Development Bank (AfDB) said on Monday.

Launching its latest regional economic outlook in the Zambian capital, the AfDB also said growth could accelerate to 4.5 percent next year if commodity prices recovered and the global economy strengthened.