Sub-Saharan Africa is poised for rapid economic growth over the long term thanks to natural resource wealth, a burgeoning consumer market and major infrastructural improvements, among other things. Indeed, the region will be one of the fastest-growing on a global basis. The bright outlook has led observers to coin the term 'African Lions', which, similar to 'Asian Tigers', denotes economies which are experiencing swift growth and rising investor interest.
Business Monitor International (BMI) has just published a Special Report which presents our 'African Lions: Top Ten Growth Markets’ telling you all about the top ten Sub-Saharan African economies which are poised for rapid growth over the coming decade.
The report focuses on ten of the most promising economies in a fast-growing, frontier region. Hence, it will be of great relevance to corporates and investors seeking to increase their exposure to Sub-Saharan Africa. We have chosen 10 countries based on several criteria. Obviously, the economies are expected to outperform in terms of growth: we forecast that they will all more than double in size over the coming 10 years, in terms of nominal GDP. However, we have also added filters for size of market, political stability and the business environment, in order to identify countries that will have broad appeal for businesses and investors looking to increase their presence in SSA. Certain fast-growing countries have been ruled out because their markets are too small, and some because of their highly unstable political climates and inhospitable business environments.
Key topics analysed in the new report include:
- How the development of offshore gas resources will impact particular economies
- Burgeoning consumer markets
- The prospects for broad-based economic growth
- How rising oil production will benefit certain economies
- The potential for economic diversification across the region
The report draws on the expertise of BMI's country risk and industry analysts to provide in-depth analysis of economies which have many esoteric elements and are undergoing rapid change.
We have used an array of credible local data sources as well as our knowledge of future economic trends to derive 10-year forecasts for real GDP growth, population, GDP per capita, the current account, and exchange rate, among other indicators. The report draws on BMI’s 30 years of experience to critically evaluate the outlook for the top 10 growth markets, helping you assess the role they could play in your company’s growth strategy for 2014 and beyond.