IPC Year In Review Report Shows Sub-Saharan Africa Economies To Be Very Vibrant
According to the Infinite Potential Consulting (IPC) report published this month, the level of economic activities across the majority of sub-Saharan Africa was strong in 2014. The Gross Domestic Product (GDP) for the year 2015 is expected to reach 5.8% from 5.2% reached in 2014 and 4% in 2013. The bigger part of this growth is attributed to the robust investment in infrastructure, agriculture and the resource sector.
The report further states that in the period 2003-2013 ten of the world’s fastest growing economies, six were in sub-Saharan Africa. The remaining four are in East and Central Asia. Last year, sub-Saharan Africa maintained the leading position by having six out of ten of the world’s fastest growing economies being Chad (9.6%), DRC (8.6%), Ivory Coast (8.5%), Mozambique (8.3%), Ethiopia (8.2%) and Sierra Leone (8%).
The East Africa region is seen as the most promising region with the strongest expected growth largely driven by Foreign Direct Investment (FDI) flows into the offshore natural gas resources in Tanzania, the expected oil production in Kenya and Uganda and agriculture practices in Ethiopia.
Kenya, Rwanda and Ghana have been identified to present a real and immediate investment opportunities in sub-Saharan Africa. The report says that it is relatively easier to enter these three markets and the returns on investmensts have been described as promising. Any would be investors planning to enter the sub-Saharan economy are advised that these three contries provide the best entry point and opportunity for possible expansion into other regions.
To view the full IPC report click here.