Sub-Saharan Africa remains second-fastest growing emerging region
Sub-Saharan Africa was expected to maintain its position as the second-fastest growing emerging market region after Asia, with regional growth to remain above 5%.
Fitch Ratings on Wednesday attributed this to infrastructure spending, the development of mineral resources and growing consumer spending on the back of strengthened policy regimes, efforts to improve the business environment and rapid credit growth.
Further, the ratings agency commented that Africa was expected to benefit from foreign direct investment.
However, Fitch said in a statement that several factors would influence sovereign ratings across the continent over the next few months.
The agency cited Kenya's March elections as being an important inflection point.
“ … [the] likelihood of a repeat of the scale of violence seen in 2007/8 is moderate, but incidents of ethnic violence are likely to increase in the run-up to the polls and immediately after,” it commented.
Further, Ghana's full-year financial figures for 2012 were due to be released over the next few weeks, revealing the extent of its election-year spending overshoot, particularly on wages, and the damage to public finances.
In Rwanda and Uganda, delays in receiving aid were expected to complicate the management of government finances over the coming months.
Comments
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation