BY MARTIN AKENDEABSA Group has predicted a slower economic growth in sub-saharan Africa in 2021 compared to 2019 before the outbreak of the Novel coronavirus.And the Bank has observed that despite the low infection and fatalities of the Coronavirus on the African continent, the pandemic is having a sizable impact on the region’s economies.Meanwhile, Absa Zambia Plc has predicted that the Kwacha will rebound in the third quarter of 2021 given the current economic fundamentals and high demand of the dollars in the importation of commodities.Absa Group chief economist Jeff Gable said despite the African continent recording low infections and fatalities compared to other continents, restrictions on movement has largely affected countries on the continent.Gable said tourism-dependent economies experienced a sharp contraction due to exceptionally weak international tourism which severely impacted the service sector.The chief economist pointed out that the restrictions in the movement imposed in most countries have affected tourist, service experts and investors […]
ABSA predicts slower sub-saharan Africa economic growth
