“The disappointing rate of economic expansion is well below the global average of 2.3%, the World Bank said in its twice-annual “Africa’s Pulse” report.
Just in April, the World Bank publication had seen growth in sub-Saharan Africa reaching 3.2% this year, but the slide in the region’s two biggest economies, Nigeria and South Africa, as well as other oil and commodity exporters, has been steeper than anticipated.”
They don’t sound very confident about the future, either:
“The report saw the region growing by 2.9% next year—still below the 3% expansion rate of 2015—but warned that “the balance of risks… remains heavily tilted to the downside.”
This means that even that 2.9% growth projection for 2017 could be optimistic as low oil and commodity prices could persist.”
Okay, so we really have to look for the “bargains”!
And wasn’t it Warren Buffett who said, “Be fearful when others are greedy and greedy when others are fearful.”? Just sayin’…
African Investment Report will continue to search out these types of companies. Be sure to subscribe on this page and get our FREE report!
“Sub-Saharan African Growth Slumps Says World Bank”: http://www.wsj.com/articles/sub-saharan-african-growth-slumps-says-world-bank-1475148609