Nigeria, Angola and Kenya posses one of the most erratic economies in the world   

21 September 2018 : McKinsey advised Sub-Saharan Africa countries to overhaul its manufacturing, exports sectors and provide better governance.



McKinsey and Company’s research arm, McKinsey Global Institute, released a report according to which Nigeria, Angola and Kenya posses one of the most volatile economies in the world. Other countries included Algeria, Iran, Paraguay, Honduras, Guatemala, Argentina, Brazil, Jordan and Greece.


Mckinsey, in its report titled, "Outperformers: High Growth Emerging Economies and the Companies that Propel Them," reported that volatile growers’ GDP per capita relapsed and/or witnessed a massive coefficient of variation over at least one 10-year period from 1965–2016.


So basically, the report studied the long term economic track record of the 71 developing economies in the world, and observed that China and India came in as the top “outperformers” in the world. These two leading economies accounted for about two-thirds of the world’s GDP growth and more than half of new consumption over the past 15 years.


In the world, Sub-Saharan Africa stands at the second-lowest region average per capita GDP, at about $1,750. In the SSA continent, Unfortunately, only Ethiopia made it to the “out performers” list. 


Breaking down the SSA region, while, Ghana, Mozambique, and Rwanda surpassed the long-term out performers in the past 10 year; Tanzania and Uganda have been comparatively more consistent growers among middling economies.


On the other hand, Angola and Nigeria have had a more volatile past.The under performing economies in Africa include Cameroon, Côte d’Ivoire, Kenya, South Africa, Zambia, and Zimbabwe. They have declined with respect to United States in the past decades, although Côte d’Ivoire’s economic performance has improved.


Reporting for EasyKobo on Friday , 21 September 2018 in Lagos, Nigeria


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