A Diamond in the Rough

15 May 2015: African product trades present a growing opportunity.  Over the last five years, the refined product trades into sub-Saharan Africa have increased dramatically. Based on the outlook for product demand relative to projections for African refinery output, the outlook for the next five years is also quite promising, driven mostly by the traditional powerhouses of South Africa and Nigeria. They are the largest African economies by far – together they account for more than half of the sub-Saharan economy. To put matters in perspective (and highlighting the continent’s growth potential), the GDP of all sub-Saharan countries combined (940 million people) is still significantly below the economic output of Germany (82 million people) in purchasing power parity terms. Download here