Control Risks releases 2016 forecast for West African nations

Control Risks, a global business-risk consulting firm, recently released its RiskMap 2016, which tracks trends in global risk and security that may be of concern in the coming year.

“While we anticipate governments surviving pressures on them in 2016, there may be heightened volatility and tension during sensitive periods such as elections, and the political environments they shape are evolving," Control Risks West Africa Senior Managing Director Tom Griffin said. "This requires investors to understand fully the drivers of change and their potential to impact the business environment, and to be prepared for alterations to posture and strategy.”

Predictions for Nigeria include government reform, revamping of the national oil company and security concerns.

Ghana's forecast includes public dissatisfaction with power shortages and slow economic progress, and victory for the New Patriotic Party and Nana Akufo-Adda in the December 2016 elections.

Predictions for Burkina Faso include the prospect of increased stability, political reform and economic growth under new President Roch Marc Christian Kaboré.

Other predictions for West Africa include currency depreciations (a result of dropping commodity prices) and terms of trade and restrictions lessening before a small rise in the price of commodities and diversification of the continent's economy.

Control Risks analysts predict that terrorism, piracy and crime will continue to plague West Africa and that conflicts may cross borders between nations (particularly the fight against Boko Haram, which may spread from Nigeria into Chad and Cameroon).

The full map and report are available for download at controlrisks.com/webcasts/studio/2015-GENERAL/Riskmap-2016/media/2015-12-08-RM-REPORT-2016-EMBARGO.pdf.