From yesterday’s Financial Times:

Labour unions are braced for job losses and forecasts for future orders are bleak.  Across much of sub-Saharan Africa, the story is the same. The region’s mineral resources have fuelled its recent growth, analysts at Absa Capital wrote. They now foresee depreciating currencies, widening deficits and evaporating mining investment in at least 11 countries. Mozambique’s fortunes are inextricably linked to its bauxite seams, as are Namibia’s to its diamond fields. Each relies on commodities for two-thirds of their exports.

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