The African Development Bank (AfDB) Group has said Africa’s economic growth will reach 4.5 per cent this year and a further 0.3 per cent (4.8 per cent) by 2013.
In a 291-page publication, entitled: The African Economic Outlook, a compendium of data on 53 African countries jointly published by the AfDB, UN Economic Commission for Africa and others, released in Arusha, Tanzania during its yearly meeting, stated that Africa’s economy grew by 3.4 per cent last year, with North Africa recording 0.5 per cent growth, compared to Nigeria and other sub-Saharan African countries with over five per cent growth in that year.
“The economic outlook for Africa remains optimistic. Natural resource-rich economies are expected to do better than more mature emerging economies,”the publication stated.The report attributed the growth to natural resources exports, migrant remittances and good economic policies maintained by some of the continent’s countries, aided by good weather and relative stability in the international market.
However, it warned that the crisis in Europe, which is Africa’s premier economic and trading partner, could undermine demand for exports.”The continued economic crisis in the euro area may reduce demand for African exports, while lowering external resource inflows,” it said.
Earlier, the bank’s President Donald Kaberuka commended African countries for maintaining growth, but urged caution given the uncertain external environment.
He appealled for caution, saying Africa should not show excessive optimism with regard to the continent’s economic growth.
There will always be warnings, and the call to caution, especially by those who invest the most amounts of money, with the biggest Returns from the so called dark continent. here are some more positive Outlooks that show, that even the African continent has more option to the European
Trad platform, i.e Intra-African Trade or the most famous Asian Tigers.
http://theweeklyworld.com/?p=5679
The report states that foreign direct investment (FDI) in Africa has accelerated as investor perceptions begin to shift. This means that projects into Africa have more than doubled from 339 in 2003 to 857 in 2011.
According to the survey, Intra-African investment has also grown exponentially, increasing from 27 in 2003 to 145 in 2011, 17% of all new FDI projects on the continent last year.
Further more, 60% of respondents say the perception of Africa as a business location has improved over the past three years, 75% believe it will improve further over the next three years
another link that opens our eyes about Intra-African Trade in figures:
http://www.sudantribune.com/Sudan-in-top-ten-importers-of,36789
