Africa is on investors' radar despite headwinds

AFRICA

A powerful shift in economic momentum is underway. Fund manager Eric Kibe and economist Jeremy Stevens comment on Africa's global economic outlook as the region steps into the spotlight

Manager view Africa stands out in contrast to the challenges facing several developed economies. The growth headwinds facing the G7 and the CEE include fiscal austerity, public finance reform and stronger regulation. In several parts of sub-Saharan Africa (SSA) however, after learning to live by these principles, governments came into the crisis with relatively low debt levels, and headroom for public spending to pick up the slack created by the private sector's slowdown. A considerable proportion of this spending, which also manifested in widened fiscal deficits, was on infrastruct...