African leaders have expressed cautious optimism to mark the arrival of 2024, with many hoping to steer their countries through economic recovery after a tough year.
Many economies on the continent suffered a slump in 2023 which worsened a cost of living crisis, as civil wars and military takeovers featured prominently on the Sahel belt.
Nigeria's transition year
Nigeria's President Bola Tinubu said he he took difficult steps to reform Africa's largest economy in order to avert a looming crisis and said the benefits will be felt soon.
He defended his decision to scrap a decades-old fuel subsidy - a move that led to a sharp rise in the price of fuel and other goods.
"I have taken some difficult and yet necessary decisions to save our country from fiscal catastrophe. One of those decisions was the removal of fuel subsidy which had become an unsustainable financial burden on our country for more than four decades," he said.
"I hear the groans of Nigerians who work hard every day to provide for themselves and their families. I am not oblivious to the expressed and sometimes unexpressed frustrations of my fellow citizens,"
South Africa's better days ahead
President Cyril Ramaphosa said he firmly believes that better days lie ahead for Africa's most industrialised economy.
"Despite the many challenges that our country is facing, we do have cause for hope and optimism. Our hope and our optimism is based on the knowledge that we have faced many hardships in the past and have overcome them," he said.
Kenya's 'opposition sabotage'
President William Ruto blamed sabotage by the opposition for frustrating his plan to revive an embattled economy that is facing high inflation and a record depreciation of the local currency.
He alleged abuse of courts to frustrate key programs meant to stimulate the economy, including a controversial levy to fund affordable housing and the proposed privitisation of nearly a dozen state corporations.
Ruto derided the opposition's "sole aim to delay, derail and sabotage the delivery of public programs and defeat public interest."
Malawi on recovery
President Lazarus Chakwera said recent budget support by the World Bank and the International Monetary Fund will stimulate growth as the country battles chronic foreign-currency shortages that have led to a lack of fuel, medicines and fertilisers.
Malawi devalued its kwacha currency by 30% against the dollar last month.
"The reforms we have implemented have also restored confidence among our development partners, resulting in the return of direct budgetary support from them for the first time in a decade," he said.
Zambia's positive outlook
President Hakainde Hichilema said efforts to revive the economy were beginning to show results and said he took "pride in the resilience our country has shown."
"The results are already evident with more tourist arrivals, increased investment inquiries, a revitalised private sector and indeed a positive outlook for the future," he said.
We will not rest until these investments come to fruition."
Rwanda's way up
President Paul Kagame was bullish of the country's economy in his new year message.
"The only way is up and nothing can stand in our way. This does not happen on its own. It is a result of the choices we have made, our determination and a mindset that believes we will do what it takes no matter how difficult,” said President Kagame.
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