This archive report was first published on 21 July 2019.
Published on July 21, 2019, a Reuters poll found that sub-Saharan Africa will continue on its recovery path next year, provided heavyweight economies like Nigeria and Kenya perform better.
According to the poll of 15 analysts and economists, Nigeria, Africa's largest economy, is expected to grow 2.6 percent next year, while Kenya is expected to grow 5.8 percent. Both growth rates are 0.2 percentage points slower than previously thought in April.
Cobus De Hart, chief economist for north and west African countries at NKC African Economics, noted that growth should gain slightly more traction next year, supported by a tendency towards looser monetary policy that will support consumption.
However, even if Ghana's growth slows as expected to 6.1 percent in 2020 from 6.5 percent this year, next year's performance would still be faster than the 6.0 percent predicted in the last survey.
Interest rates in Ghana, Nigeria, and Kenya are expected to remain unchanged next week, although Nigeria may ease in September, and the other two countries may ease next year.
Other major global central banks are also expected to ease policy soon.
South Africa's Reserve Bank has joined other emerging market banks in cutting interest rates, and De Hart believes South Africa will perform slightly better and act as less of a drag on regional growth.
Angola, the third-largest economy in Africa when excluding northern countries, is also expected to perform well if Nigeria disappoints.
