2min chapter

Moody's Talks - Emerging Markets Decoded cover image

Lower growth and higher rates will weigh on African issuers

Moody's Talks - Emerging Markets Decoded

CHAPTER

The Different Growth Dynamics in Sub-Saharan Africa in 2023

The weaker global black drops clearly having a negative impact on sub-Saharan Africa. We're looking at growth in the region in 2023, we're excited growth to be slowly below the pre-pandemic trend of around 3.5 to 4%. Even commodity producers that you would expect to benefit from a period of higher prices are actually seeing growth that's sort of in line with averages or relatively weak. And this is where we see a lot of the social pressure coming from.

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