- Sub-Saharan Africa |

Sub-Saharan Africa growth outlook subject to external and domestic risks

LAGOS (Capital Markets in Africa) – The World Bank projected economic growth in Sub-Saharan Africa (SSA) to accelerate from 2.6% in 2017 to 3.1% in 2018, relative to a previous forecast of 3.2% for 2018, supported by higher oil and metals production and prices, improved agricultural activity, increasing domestic demand, supportive external financial market conditions, as well as a pick-up in investment. It expected growth in the SSA region to average 3.6% annually during the 2019-20 period on the…

Kenya Stares at Bleak 2018 Outlook in Vote Mess Aftermath

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NAIROBI (Capital Markets in Africa) – Kenya is facing an economic storm in 2018 in the aftermath of two disputed elections. Saddled with the triple threat of austerity measures to pay for those votes, slowing credit growth and new accounting rules for banks, Kenya now risks missing the government’s forecast for 6 percent economic growth next year, according to lenders including Nairobi-based Stanbic Bank Kenya Ltd. Investec Bank Ltd. strategist Chris Becker says expansion could slow to as…

IMF says rising debt, political risk dim sub-Saharan Africa’s economic outlook

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LAGOS (Capital Markets in Africa) – Economic growth is expected to rise to 3.4 percent in sub-Saharan Africa next year from 2.6 percent in 2017, the IMF said in a report on Monday, but warned that rising debt and political risks in larger economies would weigh down future growth. Nigeria and South Africa are the biggest economies in Africa south of the Sahara, but both nations have been clouded by political uncertainty linked to the…

World Bank Says Africa GDP Rebound Inadequate to Tackle Poverty

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LAGOS (Capital Markets in Africa) – The rebound in sub-Saharan Africa’s economic growth is insufficient to meaningfully reduce poverty, the World Bank said. Gross domestic product in the region will probably expand by 2.4 percent in 2017, the Washington-based lender said in an emailed copy of its Africa Pulse report on Wednesday. While that’s down from the World Bank’s April forecast of 2.6 percent, it’s an improvement on the two-decade low growth rate of 1.3…

IMF offers three-pillared prescription for African growth

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LAGOS (Capital Markets in Africa) – Countries in sub-Saharan Africa need to get their budgets in order, diversify their economies and look after their poorest people. If they do that, there is no reason why the region cannot have the strong growth needed to meet the aspirations of a young and growing population. That, at least, is the three-pillared prescription from the International Monetary Fund as expressed by one of its top Africa researchers, Celine…

South Africa Moves Firms to Mines Ministry for Accountability

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JOHANNESBURG (Capital Markets in Africa) – South Africa will transfer the state-owned mining company and petroleum exploration-promotion agency, which report to a unit of the Energy Ministry, to the Department of Mineral Resources to improve accountability. Petroleum Agency of South Africa and African Exploration Mining & Finance Corp. will be moved to the department within the financial year ending Feb. 28, Energy Minister Mmamoloko Kubayi told lawmakers in Cape Town Friday. They will be transferred from her department’s CEF…

IMF Sees `Subdued’ Growth Outlook for Sub-Saharan Africa

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LAGOS (Capital Markets in Africa) – Sub-Saharan Africa’s economic growth outlook is “subdued” as the region’s oil producers delay policy adjustments needed to trigger and sustain expansion momentum, the International Monetary Fund said. The area’s gross domestic product will probably expand 2.6 percent this year from 1.4 percent in 2016, the IMF said in an emailed copy of its Regional Economic Outlook. The modest recovery from the worst performance in more than two decades last year will…

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