Infinite Potentials Consulting (IPC) believes in the exceptional growth potential of Africa and this review outlines some of the key growth opportunities in Africa today, with a special look at IPC’s three focus countries of Kenya, Ghana and Rwanda. This review highlights key opportunities in Sub-Saharan Africa (SSA) in 2015 and projects outwards to 2020 based on IPC areas analysis of where real and actionable opportunities lie.
Economic activity was strong across the majority of SSA in 2014. Gross Domestic Product (GDP) growth is expected to rise to 5.8% in 2015 from an estimated 5.2% in 2014 and 4.0% in 2013. This growth has been driven by robust investment in the resource sector, public infrastructure and improved agricultural production.
Six of the world’s ten fastest-growing economies in the 2003-2013 period were in SSA, with the remaining four in East and Central Asia. 2014 saw SSA maintain its leading position with six of the top ten fastest growing economies coming from the region including Chad (9.6%), DRC (8.6%), Ivory Coast (8.5%), Mozambique (8.3%), Ethiopia (8.2%) and Sierra Leone (8%) .
Regionally, growth is expected to be strongest in East Africa, increasingly driven by Foreign Direct Investment (FDI) flows into offshore natural gas resources in Tanzania, the onset of oil production in Uganda and Kenya and agriculture in Ethiopia. Growth is also projected to remain strong in Nigeria, the continent’s largest economy following rebasing of its GDP in 2014, driven by the continued expansion of the country’s non-oil sectors.
Download the full report “IPC Year in Review: Sub-Saharan Africa in 2015”.