Cape Town – While sub-Saharan Africa can ride out commodity price losses, South Africa’s economic woes have not dimmed in 2015, according to an economist.
With China continuing to slow, the oil price around $60, and other key commodities down – including tea, gold and copper - some of sub-Saharan Africa’s largest economies are facing strong headwinds this year, said Sibonginkosi Mlalazi, Euromonitor International’s communications executive for sub-Saharan Africa.
“South Africa’s … economy is beset by challenges,” he said on Tuesday. “Real GDP growth was at its lowest last year since 2009, and 2015 has got off to a bad start with electricity outages, which are affecting manufacturing and in turn dampening economic growth.”