Tag Archives: GDP

Economic growth set to reduce poverty in Africa

Economic growth in sub-Saharan Africa is likely to reach more than 5% on average between 2013 and 2015 as a result of high commodity prices worldwide and strong consumer spending on the continent, ensuring that the region remains among the fastest growing in the world. In 2012, about 25% of countries on the African continent…

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Avoiding the resource curse in Africa

Over the last four decades, resource abundant countries in the developing world have consistently under-performed resource poor countries when it comes to economic growth, income inequality and good governance. It has been well established that the more intense a country’s reliance on mineral exports (measured as a percentage of GDP), the more slowly its economy…

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Keeping Africa’s growth up, poverty down

These are uncertain times for the global economy. The recovery in the US remains sluggish, the debt crisis in Europe is unresolved and more alarmingly, there are signs of a slower growth in China. The global economic crisis, which started in 2007, has not spared the African continent. According to the 2012 African Economic Outlook…

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The importance of private sector growth and development in Africa

The private sector is Africa’s primary engine of growth. It generates an estimated 70 percent of Africa’s output, approximately two-thirds of its investment and 90 percent of employment on the continent. Based on these statistics supplied by the African Union (AU), the creation and development of private sector jobs is seen as one of the…

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Macroeconomic convergence within the SADC region

Since its evolution from the Southern Africa Development Co-ordination Conference (SADCC) into the Southern Africa Development Community (SADC), the Southern African regional formation has targeted gradually deepening its integration, starting with the creation of a free trade area in the coming decade. In addition to this free trade area, further goals such as the achievement…

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Tracking economic growth and poverty reduction in Africa

Africa is currently experiencing its most dynamic growth period in recent times. Our continent has achieved an overall growth rate above 6 percent for most of the last ten years. This makes Africa one of the fastest growing regions in the world today, with notable progress in nearly all dimensions of development. Between 2000 and…

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South Africa’s development paradigm

Development policy in post-apartheid South Africa has traditionally focused on the debate over the superiority of either state-controlled or market systems. Like many other developing world countries before it, South Africa expected that globalisation and the replacement of traditional industries by modern sectors would become a panacea for economic development in our country. Based on…

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The economic week in review: More troubling signs

Europe’s woes continued to weigh heavily on global markets this week. A summit of European leaders on Wednesday failed to reassure economists and investors that politicians can contain the growing risks of Greek exit from the euro and continental banking crisis. Here at home, data showed that the rate of price rises facing consumers rose…

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Scramble for Africa 2.0

By Marc van Olst An auspicious meeting took place at the Berlin residence of Chancellor Otto von Bismarck about 130 years ago. Foreign ministers of 14 European powers and the United States established ground rules for the future exploitation of the “dark continent”. It must have been a lively and tense meeting as the superpowers…

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The economic week in review: Unsettling

The week began with elections in France and Greece that cast fresh doubts on Europe’s ability to contain its ongoing debt and economic crises. The week drew to a close with a slew of disappointing data in China. In between, the United States sent out mixed signals and South Africa reported a rise in unemployment….

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