Solid growth amid global weakness

Sub-Saharan Africa (SSA) is not completely immune to the continuing crisis in the euro-zone and the effects of weakening growth elsewhere in the developed world, but strong domestic demand and scope for policy easing in the region’s larger economies should mean that growth holds up relatively well over the next two years. In some of the smaller economies, continued exploration and investment in natural resource sectors adds to an already positive outlook. With all this in mind, we expect the region to grow by around 4.5% in 2013 and 5.5% in 2014, quicker than every other emerging market region with the exception of Asia.