You are here
Samsung Electronics sees squeeze in African growth as economy slows
[JOHANNESBURG] Samsung Electronics expects high single-digit revenue growth in 2014, compared with the 50 to 60 per cent annual expansion of the last few years, as the global economic malaise trickles down to the continent.
Samsung Vice President George Ferreira expects revenue growth to be hit as investment and access to funding and credit in Africa go the same route as the rest of the world.
"Africa definitely has felt the pinch of the world, still with growth but definitely a slowdown in that growth," Mr Ferreira told Reuters at Samsung's African headquarters in Johannesburg.