FAST GROWING ECONOMIES

According to forecasts from BMI, 10 of the 20 fastest growing economies over the next decade will be in Africa

When discounting South Africa, Sub Saharan Africa is expected to be the fastest growing region in the world over the next 10 years These high rates of growth will come despite lower commodity prices

This can even be a benefit to some countries, such as Rwanda Ivory Coast and Ethiopia have seen their economies grow, as they are not reliant on the price of a single commodity to accelerate their economies

Low commodity prices in these countries have also helped to drive down inflation For those economies which do rely on commodities such as Nigeria and Angola, a fall in prices have helped make economies more resilient in future, as this has led to increases in the competitiveness of noncommodity sectors

This can open up options when it comes to foreign investment It’s also worth remembering that countries which have been forced to turn to the IMF or international capital markets for funding will be subject to increased scrutiny on spending, which can provide security for economic policymakers