Benedict Peters March 2, 2017

Forget About Being Africa's Biggest Economy, We Are Better Together

If we've learned anything from the last 12 months, it's that the value of statistics and headlines are often misleading. In August 2016, for example, hundreds of papers around the world proclaimed the news that South Africa had overtaken Nigeria as Africa's biggest economy. But in reality, and set in their proper context, any celebrations resulting from the news have been shown to be premature.

In truth, the numbers behind the economic rankings in Africa can vary, depending largely on International Monetary Fund calculations. And with South Africa and Nigeria's economies being so similar in size ($301bn and $296bn respectively at the time), the Rainbow Nation essentially took first place on a technicality. But regardless of the rankings and away from the headlines, the economies of each had so severely contracted in early 2016, both had been left teetering on the brink of recession. Hardly cause for celebration.

Read the full opinion piece here