Globalized world economy means globalized risks. The Subprime Mortgage Crisis，first appeared in USA，was fast to evolve into a full-scale financial crisis all around the world. It ravaged developed and developing countries alike. The world financial market is not much of a concern for most African countries，but lower price of raw materials and battered real economy in developed countries spell bad omen for them. Trading，investment and financial support from outer world deteriorated. In 2009，African economies overall are going to have a slack GDP growth of 2%，a reduction in export and in-coming investment，worse fiscal conditions，higher unemployment，and more grievous poverty. This might be expected to improve with the forecasted world economy recovery in 2010.