African economic growth to dip to 1.6% this year – World Bank

Workers arrange bags containing cocoa beans at a cocoa processing factory in Ile-Oluji village in Ondo state, southwest Nigeria March 30, 2016. REUTERS/Akintunde Akinleye
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ABIDJAN (Reuters) – Economic growth in sub-Saharan Africa is likely to slip to 1.6 percent this year, from 3 percent in 2015, due to continuing woes in the continent’s largest economies South Africa and Nigeria, a World Bank report said on Thursday.

Growth will pick up slightly to 2.9 percent next year, according to “Africa’s Pulse”, the Bank’s twice-yearly analysis of economic trends, which was unveiled in Ivory Coast’s commercial capital Abidjan. African economies are expected to expand by 3.6 percent in 2018, it said.

(Reporting by Joe Bavier; Editing by Tim Cocks)

 

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