SSA surges ahead

African countries whose economies used to be characterised by their propensity for macro-economic instability are now leading the way towards global growth at a time when international trade is f lat and most financial indicators are trending down.That’s according to Phumelelo Mbiyo, head of Africa research at Standard Bank.“The biggest differentiator on the African continent,” he said, “was the extent to which countries were able to attract foreign direct investment (FDI).”Moreover, at a time when world trade is finding itself in the doldrums with choppy water expected this year, Africa is surging ahead.And although detractors may differ, Mbiyo has long-term GDP data prepared by the International Monetary Fund (IMF) to support his optimism.When the IMF and other global financial institutions release their latest figures, it’s also expected to show that certain areas of Africa will “most likely continue on the current trajectory that is more stable with growth that is much stronger”.But the best aspect of the “constructive path” on which the continent found itself, Mbiyo said, was Sub-Saharan Africa – where acceleration is expected to continue this year.