INTO AFRICA: African Economic Outlook in 2016

LAGOS, Nigeria, Capital Markets in Africa — In 2015, Africa experienced its slowest economic growth rate since the 1998 global financial crisis. The Sub-Saharan Africa real GDP growth fell from 5.0 percent in 2014 to 3.75 percent in 2015 (IMF’s estimates). The downside risks in 2015 (low commodity prices, a slowing in China’s growth and uncertainty in the level of USA’s real growth rate) are expected to spill-over to 2016 but with reduced impact. As a result, IMF predicts that the region’s real growth will rebound to 4.0 percent in 2016 (against 4.3 percent predicted in the October 2015 IMF’s predictions).

For 2016 some economists and analysts believe Africa is at a tipping point and so this first edition of INTO AFRICA focuses on the African Economic Outlook in 2016. Economic predictions can sometimes be guess work or very subjective so, for a balanced view, we interviewed 5 leading Africa-focused economists and analysts from African and global banking giants to give their views on the Economic Outlook for Africa in 2016. They are: FRANCOIS CONRAIE (Head of Research, NKC African Economics, South Africa), SAMIR GADIO (Head of Africa Strategy, Standard Chartered Bank), THEA FOURIE (Sub-Saharan Africa Senior Economist, ANDREA MASIA, (Economist, RMB Morgan Stanley Research), IHS Economics and Country Risk) and TIAGO DIONISIO (Chief Economist, Eaglestone Securities).

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