Ivory Coast, Senegal and other African nations feature on investors’ radars
Investors targeting Africa are broadening their horizons in their search for yield as sluggish growth and policy uncertainty in Nigeria and SA, the continent’s biggest economies, weigh on returns. Ivory Coast, Senegal, Ghana, Rwanda and Ethiopia are among countries featuring on the radar screens of investors attending the World Economic Forum’s annual gathering of the continent’s business and political leaders being held in Durban. All five economies should grow at more than the double the sub-Saharan region’s average forecast rate of 2.6% this year, the International Monetary Fund said in April. It expects both Nigeria and SA to expand 0.8%. "There is a more nuanced story in Africa," Razia Khan, Standard Chartered’s head of Africa macro research, said in an interview at the forum. "There are pockets of strength and turnaround. Local factors matter much more than they did in the past." Senegal and Ghana are set to benefit from recent oil discoveries. Both their governments, along wi...
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