Shadowing Africa

Africa's informal economy and demand for mobile services is holding up despite the downturn in commodity prices, according to Phuthuma Nhleko, CEO of the MTN Group. "Because the shadow economy is so big and it is informal, I think that in some cases the impact of the commodity cycle is exaggerated," he told the Financial Times. "There are some countries where we haven’t seen a decline in spend. I’m not saying we’re not going to see it by June but maybe [it will be] a bit later or maybe it’s not going to be that big, I don’t know." source: Financial Times