Growth in sub-Sahara Africa is picking up and expected to reach 2.6 percent in 2017 from 1.4 percent in 2016 the IMF says in its latest Regional Economic Outlook for Sub-Sahara Africa report.
While growth is expected to accelerate further to 3.4 percent, in 2018 the underlying situation remains difficult with rising vulnerabilities (rising public debt, narrow current account deficits and low international reserves).
“Policies to promote diversification can help support growth when supported by policies to enhance macroeconomic stability, improve education outcomes, bolster governance and transparency in regulation, and deepen financial markets” IMF said
The IMF report with strong growth projections confirms our view that Africa is one of the best investment destinations in the world. While investors can assess the opportunities using macro data and estimates, it is also recommended that they leverage micro data to get holistic view of the markets they are looking to invest in.
Last week, KASI Insight was invited to the Invest in Frontier Market Conference in Toronto to make the case of Africa as a viable investment destination for Canadian investors.
Our presentation is available here.
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