Fitch cuts South Africa growth forecasts on energy shortages

by Reuters 0

Kenya’s Diamond Trust Bank jumps 17% in pretax Nigeria sets 2020 goal to have 80 per cent of its population financially included in the banking system.

Fitch has cut its 2015 and 2016 economic growth forecasts for South Africa due to ongoing energy supply constraints, an official at the ratings agency said on Thursday.

Fitch now forecasts Africa’s most developed economy to grow 2.1 per cent this year and 2.3 per cent next year, before ticking up to 3.1 per cent in 2017 if electricity shortages ease, Fitch Managing Director Ed Parker told a conference in Johannesburg.