The 2017 version of Ecobank Research’s Fixed Income, Currency and Commodities (FICC) Guidebook, was launched at AfricaFICC. It provides expert knowledge and analysis on African markets for investors and businesses.
Three key trends are forecast to take hold during the next 12 months, indicating a positive outlook for the Africa.
The first indicates an economic rebound in sub-Saharan Africa driven by a recovery in the region’s economic heavyweights, Nigeria and South Africa, and ongoing growth in the top performers, Ethiopia, Côte d’Ivoire and Ghana.
Growth will be driven by a rise in oil production (particularly in Ghana, Republic of Congo, Angola and Nigeria), strengthening infrastructure investment across West and East Africa, and improved weather conditions which bode well for crops.
Strengthening economic activity, plus a moderate improvement in oil and mineral prices, will help lean the current account deficit, but pressure on SSA currencies will remain.
The 2nd emerging trend points to West Africa’s gas sector becoming a hive of activity in 2018 from Senegal to Angola, with the development of gas pipelines, floating liquefied natural gas (FLNG) platforms and major gas field projects.
Governments in the Gulf of Guinea and across West Africa have started efforts to secure gas supply to increase domestic power generation and branch out their revenues away from crude oil.
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