January 10, 2011

The Economist: IMF Growth Data Shows African Opportunity

A recent article in the Economist has pointed out that growth in sub-Saharan Africa has been making waves over the past decade, and will likely continue to do so over the next few years. The article notes that although there has been a focus on the emerging ‘BRIC’ economies, over the past ten years “no fewer than six of the world’s ten fastest-growing economies were in sub-Saharan Africa.” Seven of the top 10 fastest expansions over the next five years are also expected to come from the African continent. This compares with the two decades prior to 2000, when only one African economy made the top 10. In fact, the Economist notes that “Standard Chartered forecasts that Africa’s economy will grow at an average annual rate of 7% over the next 20 years, slightly faster than China’s.”

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