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Africa Market Overview May 2018

2018 has begun with a more promising outlook for many of the diverse markets across Africa. We have taken a look at the trends affecting financial services and their impact on hiring

  • Having seen political issues in South Africa and Kenya, two of the powerhouse African economies, weigh heavily on market sentiment in 2017, a relative period of stability, brought about by the election of Cyril Ramaphosa and the Rex Tillerson brokered deal in Kenya, has increased expectations for 2018. In March the OECD raised South Africa growth forecasts for both 2018 & 2019, while GDP expectation for Kenya is around 5.8% for 2018, having dropped to 4.5% in 2017
  • The Nigerian elections scheduled for 2018 had been expected to cast a shadow over the year, however President Buhari’s declaration of intent to run following his apparent recovery combined with the relatively buoyant oil price have meant that the potential for deal making still exists

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