Through Q4 Ethiopia has seen deterioration of its foreign exchange reserves and a climbing inflation rate – both undermining its position as Africa’s growth poster boy.
Over the last couple of years, the world has seen a race to develop the best expertise in financial technology – boosted and supported by technological evolution, availability of funding, increased support from governments and regulators and changing customer appetite and expectations.
In a bid to leapfrog the traditional steps to development a number of West African economies are developing ‘Smart City’ solutions in major urban areas. One such solution, the establishment of new satellite cities, is yielding mixed results in the region.
In its Global Competitiveness Report 2017/2018 the World Economic Forum (WEF) ranks Mauritius 1st in Sub-Saharan Africa and 45th globally.
After 2015’s slump in oil prices, African growth is surging back. The World Bank is expecting growth of 2.9% in sub-Saharan Africa this year.
On 8th June 2017, The Prime Minister and Minister of Finance and Economic Development delivered this Government’s third and mid-term budget as a continuation of its roadmap, with little change to economic policy.