TAG: Africa
While numerous factors have contributed to Kenya’s declining GDP expansion rate, one of the main reasons is the slowdown in private sector credit growth as a result of the interest rate cap introduced in 2016. In the inaugural OBG Business Barometer: Kenya CEO Survey, 89% of CEOs say that the newly imposed interest
rate cap has made it more difficult or much more difficult to access credit. Despite this, overall sentiment about Kenya’s economic outlook remains positive, with 75% of respondents saying that it is likely or very likely that their company will make a significant investment within the next 12 months.
After more than a decade of political turmoil, Côte d’Ivoire has emerged as one of the world’s best-performing economies, boasting average annual GDP growth of 9.3% between 2011 and 2016, driven primarily by strong investment in sectors such as construction, energy and ICT.
Having emerged as one of the world’s best-performing economies after a decade of political turmoil, Côte d’Ivoire is continuing its efforts to propel the economy forward, with a focus on enhancing industrialisation. Of the 139 C-suite executives that participated in Oxford Business Group’s inaugural Business Barometer:
Côte d’Ivoire CEO Survey, 58% consider the measures put in place to drive industrialisation as either positive or very positive. However, while 84% of respondents are positive or very positive about local business conditions, access to credit could be improved, with 68% classifying it as difficult or very difficult.