Interest in investment opportunities in sub-Saharan Africa outside South Africa is growing. Is this just another bubble? Over the past 40 years, there have been six “false dawns,” where hope in Africa has been ignited by high commodity prices, only to be snuffed out by economic collapse during a commodities downturn.
Despite this, there is an emerging consensus that the boom in sub-Saharan Africa will attract more money, and for longer, than previous cycles. The IMF’s 2007 regional economic outlook for sub-Saharan Africa, released in October, predicts that average GDP growth for the region will accelerate from 6% in 2007 to 7% in 2008.
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