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 […]
economic growth
Posted inBusiness, News/Politics
Regional trade can boost Africa’s growth, jobs
There is strong consensus that regional integration is indispensable in promoting intra-African trade especially with a large African market of one billion consumers, which can be a powerful engine for growth and employment. Despite the underlying market potential for both cross-border and export trade, the volumes and values of the goods traded in the regional […]
Posted inBusiness, News/Politics
South Africa 2013
South Africa’s potential growth has slowed over the last few years. Considerable efforts will be needed to meet the Government’s goal of raising per capita income and to create 11 million new jobs by 2030. Moreover, inequality continues to be unacceptably high, suggesting that making growth more inclusive remains an important policy challenge. Our government […]
Posted inNews/Politics
SA’s woes will ripple through region
Growth in sub-Saharan Africa has remained generally robust against the backdrop of a sluggish global economy. Regional output is projected to expand by at least 5% in 2012 to 2013, a similar pace to that recorded in 2010 to 2011. That being said, there is significant variation across the region, with solid expansion being recorded […]
Posted inBusiness, News/Politics
The Economist gets it wrong — again
It’s easy to satirise the kind of journalism that led to the now famous October 20 “Cry, the beloved country” cover story of the Economist magazine. There are two stories in the edition, a short “leader” article and the main story. This is the intro of the main story in the magazine: “It has made […]
Posted inNews/Politics
Investment flows back into Africa
Over the past 10 years, foreign direct investment (FDI) has helped boost sustainable economic growth in many African countries. In theory, FDI can assist to accentuate productive capacity, employment and exports. When properly managed, it can also bring secondary benefits in the form of transfers of technology, management expertise and marketing skills. With continued liberalisation […]
Posted inBusiness, News/Politics
The role of development banks in times of crisis
Within a historical context, development banks (DBs) have been a critical instrument for governments and administrations to promote and facilitate economic growth. This has traditionally been achieved through providing credit as well as a plethora of advisory and capacity building programs to households, small and medium enterprises and large private corporations, whose financial needs are […]
Posted inBusiness, News/Politics
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 […]
Posted inBusiness, News/Politics
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 […]
Posted inBusiness, News/Politics
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 […]
Posted inBusiness, News/Politics
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 […]
Posted inBusiness, General
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 […]