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© blakewoodhams.co

State spending in sub-Saharan Africa must be cut back to tackle low commodity prices

Will Green is news editor of Supply Management
12 May 2016

The short-term outlook for the economy in sub-Saharan Africa (SSA) is “somewhat bleak” but there are “reasons to be optimistic”, delegates were told at the CIPS Pan Africa Conference.

Sizwe Nxedlana, chief economist at First National Bank, said factors including low commodity prices, the slowdown in China, the possibility of a US interest rate rise and drought in Southern Africa had pushed down economic activity in SSA to a 15-year low in 2015.

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