CHANGING DYNAMICS IN AFRICA
GUEST SPEAKER: Professor Lyal White,
Director: Centre for Dynamic Markets at the Gordon Institute of Business Sciene
Professor White provided thought-provoking insight into the real status of African economies, which often belie the “Africa Rising” narrative. Latest figures from the World Bank forecast a mediocre 3.1 – 3.5% growth which has dropped off from the 7 – 8% growth initially thought to be achievable. Since 2015 was a testing year for the global economy, it is not surprising that the fragile African middle class is vulnerable to cost of living increases.
Issues such as increased food security and the ability for political institutions to keep pace with commercial development are key to the long term growth of the continent.
Professor White also stressed the importance and influence of the 3 key African economies: Nigeria, Kenya and South Africa, which dictate the general health of the continent.