The Africa CEO Forum kicked off in Geneva on Monday. African economies were hit hard in 2016 by low commodity prices, but a modest recovery from slow growth is forecast for 2017. Africa CEO Forum president Amir Ben Yahmed said: "The two biggest economies — Nigeria and SA, which make up 45% — have been very hard hit. There’s concern for the economic situation." The conference barometer — a survey of the about 1,000 CEOs attending the conference — showed: • 62% of CEOs said their companies had experienced the effects of the economic slowdown in the past few months; • 71% were optimistic about business on the continent in 2017; and • 92% expressed confidence in economic growth. Yahmed said while progress had been made in the past 15 years, there was still a lot to be done. African states needed to fight against fraud and corruption while pushing for economic diversification and regional integration. Global foreign direct investment (FDI) increased by 9% in 2016 but Africa accounted for...
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