Investment analyst Aly-Khan Satchu is not so sure they are.
Particularly when it comes to weak currencies being propped up by government intervention like Nigeria’s naira. Or indeed cash-strapped commodity dependent governments such as in Angola or Zambia.
- Not only do you have coronavirus pulling down key economic sectors like tourism and commodity exports
- Locusts are devastating livelihoods for farmers in East Africa
- But you also have a real debt headache – with many African countries having maxed out their balance sheets.
READ MORE FROM SATCHU HERE: Debt, coronavirus and locusts create a perfect storm for Africa
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