Where Goldman Sachs sees opportunities in Africa

Goldman Sachs, a renowned global investment bank, is eyeing diverse investment prospects across the continent of Africa. In a recent interview with CNBC Africa, Colin Coleman, the Managing Director of Sub-Saharan Africa at Goldman Sachs, discussed the emerging trends and potential growth areas within the region. Coleman highlighted the impressive economic growth rates of countries like Ethiopia, Ghana, and Rwanda, emphasizing their solid performance and substantial progress in implementing significant reforms. While acknowledging the positive contributions of smaller economies, Coleman underscored the importance of major economies such as Angola in driving overall economic prosperity. He expressed optimism about the ongoing political and market reforms in Angola, signaling a promising trajectory for investment opportunities in sectors like telecommunications, consumer goods, banking, and oil. Despite refraining from commenting on specific M&A deals, Coleman hinted at the government of Angola's discussions around a broad privatization program aimed at unlocking economic potential and fostering market activity. The prospect of liberalizing resources previously controlled by a concentrated elite group presents a compelling outlook for investors in Angola's evolving landscape.