If 2017 is your year for African expansion, you might be wondering what our continent’s outlook is over the next 12 months.
Some experts have made their predictions. We went around the web and put together forecasts from four leading sources.
Here is Africa’s outlook for 2017, according to those who know:
Investment across the continent: African Business Review
The prediction here is that 2017 will continue in 2016’s footstep – 2016 was eventful due to a tumultuous economic climate.
The key themes and trends in investment specifically are forecasted to be:
Fund raising: Funds that can demonstrate a real track record of understanding and investing in Africa will continue to attract investment.
Macro-economics: A recovery in the economies of Nigeria or South Africa will generate a significant rise in deal activity.
Sectors: Technology and infrastructure will continue to attract investment.
Growth on the continent: African Arguments
African Arguments says that hope for faster growth in Africa rest on the prospects of the continent’s two largest economies – South Africa and Nigeria.
South Africa: Private sector confidence remains week. Rising debt levels mean South Africa remains at a risk of losing its investment grade credit rating. On the upside, there has been some recovery from the severe drought South Africa has been gripped by and improved electricity generation is predicted to provide a modest lift.
Nigeria: Following a probably contraction of GDP in 2016, it will not take much to drive growth to positive levels in 2017. Oil output and Nigeria’s ability to curb militancy in the Niger Delta will also play a role in shaping this West African country’s economy.
Tech is going to bigger than before: AFK Insider
According the AFK Insider, these are the tech trends we can expect from Africa in 2017:
Drones for good: U.S firm Zipline is using Rwanda to test its drones, which deliver drug and medical equipment to rural areas. It is likely that we’ll see much more of this technology across Africa in 2017.
Big tech companies in Africa: Google, Facebook, eBay and Alibaba are already active in Africa. More market leaders are predicted to come to Africa, as Africa is regarded as digital’s ‘final frontier’.
Smarter cities: Rwanda has been working hard to make Kigali as technological as possible. In South Afirica, the likesof WhereIsMyTransport and GoMetro are coming up with ways of helping people move around cities. Expect more of this innovation in 2017.
Economies to watch: Quartz Media
Ivory Coast: Africa’s fastest growing economy in 2016 is likely to maintain its lead in 2017. Sustained growth will come from the region’s ambitions ot become a regional energy hub. The country already has a number of renewable energy projects underway, with several in the pilot phase.
Senegal: Senegal is Africa’s second fastest growing economy and it is predicted to stay in the number 2 spot in 2017. Senegal’s GDP grew by 6.5% in 2015.
Togo: Togo’s growing GDP is spent on infrastructure projects, most notably the development of port of Lome, a natural deep water port that will serve West and Central Africa. Togo has eased restrictions on business owners and reduced the number of days it takes to set up a business from 38 in 2012 to just 10 in 2015.
Benin: Under recently elected president Patrice Talon, the Benin government has committed to reforming its cotton industry and diversifying its economy. Planned investments in the country’s ports, a stronger power grid and development of the telecommunications industry could lead to sustainable growth.
Morocco: Morocco, home to Africa’s largest wind farm, is turning its focus to renewable energy. Toward the end of 2016, Morocco signed a deal with Nigeria to construct a gas pipeline to Europe. The country has also signed bilateral agreements and lucrative economic deals with Madagascar, Ethiopia, Burkina Faso, Rwanda and Tanzania.