African markets expected to overtake SA

AVERAGE ECONOMIC growth in the sub-Saharan market, representing 650 million consumers, is expected to outstrip that of South Africa in the next year. Further interest is being stimulated by the latest edition of the Economic Report on Africa (ERA 2008), an annual publication of the United Nations Economic Commission for Africa (ECA) and the African Union (AU). It forecasts that African economies will grow by an average of 6.2% in 2008 – above the expected South African growth rate of less than 5% that economists are predicting. Africa’s growth performance was driven mainly by robust global demand and high commodity prices.