S&P Global Ratings maintains positive outlook for SA economy

Despite issues faced in Africa, there is potential to attract investment from all regions, says Le Pallec

- ASHLEY LECHMAN

S&P GLOBAL Ratings has said that the outlook for the country remains positive, during its South Africa Capital Markets Conference in Johannesburg on Wednesday.

S&P global experts and industry leaders, engaged in dynamic panel discussions during the conference.

Yann Le Pallec, President of S&P Global Ratings, highlighted Africa's potential for growth, particularly in sub-Saharan regions.

He projected that the region's real GDP is expected to increase by 4% over the next two years, outperforming advanced economies that are anticipated to grow by a mere 1.5%.

"Despite issues faced in African economies, there is potential to attract investment from all regions," Le Pallec said, emphasising the continent's pivotal role in the global energy transition.

Le Pallec addressed the pressing need for enhanced electricity access across Africa, noting that approximately 600 million people in sub-Saharan Africa currently lack reliable power.

He mentioned the plans from both the World Bank and the African Development Bank to provide electricity access to 300 million individuals, demonstrating a commitment to improving infrastructure.

G20 and the economy