April 13, 2016

Africa’s Wide Growth Range

   April 13, 2016

Africa’s Wide Growth Range

2016_African_Economic_Growth_Forecasts__Change_in_GDP_growth_(%_points)_TMMChart.png

Trader’s remarks: According to World Bank forecasts, it is clear that the economic growth in Africa slowed to an estimated 3.0% last year, down from 4.5% the year before and the slowest rate of expansion since the 2008/09 global financial crisis. More concerning is that the continent’s massive population growth will negate any positives from their little growth. Relatively, oil importing countries such as Kenya should do better due to the low purchase price of oil. On the other hand Angola, one of Africa’s leading petroleum producers, will be badly hit by plummeting oil prices. 

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