Thursday, January 06, 2011

Africa: One of the World’s Fastest-Growing Regions


From The Economist:

"Much has been written about the rise of the BRICs and Asia’s impressive economic performance. But an analysis by The Economist finds that over the ten years to 2010, six of the world’s ten fastest-growing economies were in sub-Saharan Africa. The IMF forecasts that Africa will grab seven of the top ten places over the next five years (our ranking excludes countries with a population of less than 10 million as well as Iraq and Afghanistan, which could both rebound strongly in the years ahead). Over the past decade the simple unweighted average of countries’ growth rates was virtually identical in Africa and Asia. Over the next five years Africa is likely to take the lead. In other words, the average African economy will outpace its Asian counterpart."

HT: Colin

3 Comments:

At 1/06/2011 11:33 PM, Blogger VangelV said...

As usual, you are a bit late to the party Mark. Africa has been improving for years and the business climate is much better than it has been. In my case I have invested far more money in Africa than in the US because of the much better environment and far better prices.

 
At 1/07/2011 3:43 AM, Blogger PeakTrader said...

Africa has 2.3% of the world's GDP, and its population is projected to almost double to 1.8 billion in 2050.

OWNO Summary of the World

If we could shrink the Earth's population to a village of 100 people, with all existing human ratios remaining the same, it would look like this:

There would be 61 Asians, 12 Europeans, 13 Africans, 9 from South America and the Caribbean, and 5 from North America.

48 would live on less than US $2 a day.

29 would believe in witchcraft.

8 would have Internet access from home.

Only 1 would have a college education.

Half of the entire village's wealth would be in the hands of 6 people, and most of them would be citizens of the United States.

 
At 1/07/2011 12:37 PM, Blogger juandos said...

"Africa: One of the World’s Fastest-Growing Regions"

Well consider where the starting point for growth in Africa is any growth could be considered one of the fastest growing regions...

Still its good to read Bloomberg stories like this one: Kenyan Stocks Advance, Have Longest Streak of Gains in 10 Weeks on Growth

By Eric Ombok - Jan 5, 2011 7:47 AM CT

 

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