Sub-Saharan Africa Positioned for Sustained Growth
By Rolex Owino
The Sub-Saharan African (SSA) region is positioned for sustained growth, in line with Cytonn Investment’s recent economic analysis.
According to Cytonn, this projected sustained growth trajectory will be supported by increased public spending on infrastructural development – owing to the high demand for basic needs. Additionally, stock market valuations are seen to remain attractive for long-term investors.
A continued positive outlook from 2018
According to the World Bank’s collated data, the region recorded a 2.7% GDP growth in 2018, in comparison with a 2.3% estimate that was recorded in 2017.
In East Africa, a rebound in growth was recorded in the third quarter of 2018 as follows: Rwanda. These positive growth developments were largely attributed to improved agricultural performance that was driven by favourable weather conditions.
In Western Africa, the experienced average GDP growth rate was pegged at 6%, respectively. Countries herein comprise Benin, Burkina Faso, Cote d’Ivoire, and Senegal.
Source: ASV & Capitalfm.