Rising oil production in several countries is helping to stimulate economic growth in Sub-Saharan Africa.
The assessment by Ecobank, a pan-African banking group, identified Ghana, Republic of Congo, Nigeria and Angola as key contributors to the oil boom.
Natural gas is also a growth area, said the research, with countries such as Senegal developing pipelines and facilities for liquefying gas.
“Deregulating the gas market and allowing market-driven gas prices will be key to unlocking further gas infrastructure investment across the region,” said a statement by the bank.
Another growth trend in Africa is the development of digital technology, which is supported by an “explosion” in mobile phone usage across the continent, said Ecobank.
©2017 funds global mena