System D is bigger than we thought

System D in Africa could well be bigger than previously estimated, according to this article from Investment Europe. Citing a report from Old Mutual Investment Group, the article suggests that the informal economy in African countries could be the same size as the legal economy.

Key quote: The size of the informal economy is not certain, but many economists estimate that the Nigerian and Egyptian economies could be more than twice the size of their respective official figures.

Another interesting idea -- that informal trade, rather than thriving during times of unrest, may also be challenged by sectarian violence: the slowdown in the north of Nigeria is due to the safety issues making it more difficult to service its neighbours, Niger and Chad.