Brexit and economic deceleration in China pose risks for Africa's growth says ECA director

Abstract

Africa’s economy is set to feel the effects of Brexit following Britain’s formal trigger Wednesday of the two-year exit process from the European Union after last year’s historic referendum vote to leave the EU. Director Adam Elhiraika of the of Economic Commission’s Macroeconomic Policy Division says Africa’s economic growth declined from 3,7 percent in 2015 to 1,7 percent in 2016 due to weak global economic conditions, persistent low oil prices and adverse weather conditions and may further be affected by Brexit. “The effects of Brexit may slow the global economy with spillover effects into Africa, mainly through trade and financial channels,” Mr. Elhiraika said as he spoke about the ECA’s Economic Report on Africa (ERA) 2017 which was launched Saturday in Dakar.