by on 20 hours ago
After nearly a decade of galloping economic growth, the continent experienced a very sharp decline last year. The hardest hit were the major commodity exporters, especially Nigeria, Angola and South Africa. Nigeria, Africa’s largest economy, went through a recession and its currency took a severe beating, losing more than 60 percent of its value in less than 12 months. In South Africa, pull-backs in mining operations and volatile commodity prices (especially for gold, platinum, and coal) led...
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