Sub-Saharan Africa growth seen at 5% in 2012 - Standard Bank Group.

By bne IntelliNews January 25, 2012
Economic growth in sub-Saharan Africa is expected to remain subdued at about 5% in 2012, in line with the slowdown in global economic activity, as none of the continents key economies is seen slipping into recession, according to a report by pan-African banking group Standard Bank Group, Ghana Business News reported. Since May 2011 we have been revising down our growth estimates for Africa predominantly in line with an expected slowdown in global growth activity. Our projection for weighted sub-Saharan African growth was 5% in 2011, which is still below the IMFs expectation of 5.2% revised down from 5.6%, and a similar trajectory in 2012, which is well below the IMFs expectation of 5.8%, the report said. The report examines some of the key international and local factors that will drive the markets of 21 African countries and covers strategies for investing in the continent. According to Standard Banks analysts, political risk will remain a key external factor for the development of African markets this year. Elections, or referendums, are planned to take place in about 20 out of the 54 countries across the continent, as the most closely followed by international investors will be the outcome of the ongoing electoral process in Egypt, presidential election in Senegal in February, general elections in Kenya and parliamentary and presidential elections in Ghana in December, the report said.

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