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18 EMERGING MARKETS At the beginning of April, the government of South Africa was hit with theratings agency S&P Global. This financial downgrade has been the culminainvestors with interests in the long-economically advanced nation.
The economy of Nigeria has also experienced turbulent times in the past year, slipping into a recession in August, which has similarly shaken the con dence of foreign investors in the West African nation.
South Africa and Nigeria have long been considered two of the strongest and safest jurisdictions on the continent when it comes to investment, however the recent economic uncertainty felt by both has had  nancial analysts turning their gaze towards alternative destinations across the continent.
The meteoric rise of the African market throughout the last decade has not only been contained to South Africa and Nigeria’s economies, with a wealth of sub-Saharan nations making great leaps towards prosperity during this time.

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