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Kenya overtakes Angola to become sub-Saharan Africa’s 3rd largest economy

8 June 2020 11:41 AM
Tags:
Kenya
Nigeria
Africa
Angola
South Africa
IMF
International Monetary Fund
African economies
Nairobi
Refilwe Moloto
africa report
Kenyan economy
Angolan economy
economy of angola
economy of kenya
Economies of Africa
Jean-Jacques Cornish

The economy of Kenya – a country without significant mineral wealth – has overtaken Angola, a nation awash with oil.

Kenya has overtaken Angola as sub-Saharan Africa’s third-largest economy, according to the International Monetary Fund (IMF).

Nairobi, Kenya. Picture: 123rf.

Angola’s is one of the world’s major oil producers.

Its economy has been in shrinking in every year since 2016.

Kenya, with no significant mineral endowment, has seen economic growth averaging about 5% for more than a decade.

Nigeria has the largest economy in Africa.

It is closely followed by South Africa, which has the Continent’s most developed economy.


Related article: Rwanda’s rapidly industrialising economy is getting a R35 billion Silicon Valley


Refilwe Moloto interviewed Africa correspondent Jean-Jacques Cornish.

If the oil price doesn’t increase, Angola is going to feel it even more… China – feeling the pinch too – is in no mood for going easy on loans.

Jean-Jacques Cornish, Africa correspondent - CapeTalk

Listen to the interview in the audio below [skip to 1:59].


8 June 2020 11:41 AM
Tags:
Kenya
Nigeria
Africa
Angola
South Africa
IMF
International Monetary Fund
African economies
Nairobi
Refilwe Moloto
africa report
Kenyan economy
Angolan economy
economy of angola
economy of kenya
Economies of Africa
Jean-Jacques Cornish

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