Colin Coleman, Goldman Sachs’ managing director for sub-Saharan Africa, thinks that despite some tough times and risks ahead, long-term prospects are optimistic:
“Despite the challenges that emerging markets have faced recently, Coleman thinks that global sentiment is improving, with Brazil forecast to come out of the recession next year and China and India emerging as ‘bright spots’.
So how does Africa compare in this global context? For investors with a long-term approach, the continent’s large, rapidly growing, under-serviced consumer base is still an attractive option. However, slow growth combined with high risk remains a deterrent.”
He is especially optimistic about East Africa (particularly Kenya and Rwanda”) and South Africa:
“‘One area of optimism on the continent is east Africa. The region has managed to escape some of the knock-on effects of lower commodity prices seen in west Africa, with countries such as Kenya and Rwanda focusing on improving their business environments.
In east Africa we are seeing quite a lot of growth… and I hear very good things about the east African experience from many companies,’ said Coleman.”
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