FRANKFURT (AFP) – Sub-Saharan Africa is becoming increasingly attractive for foreign investors, even if a lack of infrastructure and other factors are holding back growth in the region, a Commerzbank study found on Thursday.
“Persistently low global economic growth has not affected Sub-Saharan Africa much so far,” the German bank wrote in the study.
“The international financial crisis has barely touched the region. With real economic growth of 5.0 per cent in 2013 and an anticipated 6.0 per cent in 2014, the region ranks number two behind Asia” among the world’s most dynamic regions, Commerzbank said.
The countries in the region, with their wealth of raw materials, are benefitting from high commodity prices and are becoming lucrative growth markets that are awaking international interest.[Full story]