Domestic risks to Africa’s growth: Navigating local content regulation and taxation (Amadou Sy, Mariama Sow, Brookings)

Sub-Saharan Africa is currently experiencing its slowest growth pace since 1994. The International Monetary Fund predicts that this year the continent will grow at a rate of 1.4 percent, down from 3.6 in 2015. Africa’s economic powerhouses—Nigeria and South Africa—are seeing their lowest growth rates in years. Nigeria is predicted to experience a 1.7 percent decrease, while South Africa’s growth rate will lie at 0.1 percent. The decline in Africa’s GDP growth is a reflection of the challenging global macroeconomic climate. Amid the slump in commodity prices, policymakers have urged African countries to diversify their economies and trigger structural transformation. In order to do so, African countries must attract foreign capital.

https://www.brookings.edu/blog/africa-in-focus/2016/10/18/domestic-risks-to-africas-growth-navigating-local-content-regulation-and-taxation/