Growth despite slowdown

Africa’s growth will continue

for the foreseeable future

despite many projects being

placed on hold and operations

slowing down, according to Paul

Runge, managing director of

Africa Project Access.

“African countries will continue

to grow, possibly not at the rates

that were first envisioned – and

in many cases they have been

revised,” he told FTW. “But we

still expect to see some double

digit growth rates in several

countries.”

He said even though low

commodity prices were impacting

significantly in many countries

– especially the oil-producing

countries – growth remained on

the cards.

“Whilst the mining sector has

come to a standstill, we have

seen a very strong push for urban

commercial property development

in Africa. Hotels are going up in

several big cities and the sector is

pretty vibrant at the moment.”