Absa’s economic outlook for Zambia

Amidst the global economic turmoil caused by the COVID-19 pandemic, Sub-Saharan Africa has not been spared from the impact. A recent report on the region's economy noted a significant slump in economic activity in the second quarter, particularly affecting countries dependent on oil exports and tourism. However, there is optimism for a potential recovery in the near future. CNBC Africa had the opportunity to speak with Ridle Markus, an Africa Strategist at Absa Corporate and Investment Banking, to gain further insights into the economic outlook for the region. Markus highlighted some key trends and concerns regarding the economic health of various countries in Sub-Saharan Africa. According to Markus, many economies are expected to show signs of improvement in the second half of the year, but challenges still persist. The discussion touched upon specific countries like Zambia, Kenya, and Nigeria, shedding light on inflation rates, currency fluctuations, and government policies impacting economic growth. Despite the uncertainties and risks, Markus remains cautiously optimistic about the potential for recovery, emphasizing the importance of innovative solutions and strong demand to support economic resilience in the region.