AFRICA RISING

Finweek English Edition - - IN BRIEF -

Af­ter a tough 2016, eco­nomic growth on the con­ti­nent is ex­pected to pick up in 2017, Capital Eco­nomics said in a re­cent re­port, with sub-Sa­ha­ran African growth ex­pected to reach 3% and ac­cel­er­ate to 3.8% in 2018. While Nige­ria, An­gola and South Africa will con­tinue to strug­gle, growth will be stronger else­where, with Kenya (fore­cast growth of 6%), Ivory Coast (8%), Ethiopia (7.5%), Ghana (7%) and Tan­za­nia (6.5%) in par­tic­u­lar ex­pected to per­form. Mozam­bique, where eco­nomic growth of 4.5% is ex­pected, will be forced to re­struc­ture its debts, but the worst is prob­a­bly over for the real econ­omy, Capital Eco­nomics said. African cur­ren­cies are ex­pected to re­main un­der pres­sure in 2017, while only mod­est gains are pre­dicted for equity mar­kets.

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