What’s driving Africa’s growth? – McKinsey & Company.

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The Rate of Return on foreign investment is higher in Africa than in any other developing region. Global executives and investors has to pay heed.

Africa’s economic pulse has quickened, infusing the continent with new commercial vibrancy. Real GDP rose by 4.9 percent a year from 2000 through 2008, more then twice its pace in the 1980′s and 1990′s. Telecommunications, banking and retailing are flourishing. Construction is booming. Private-investment inflows are surging.

To be sure, many Africa’s 50-plus individual economies face serious challanges, including poverty, disease, and high infant mortality. Yet Africa’s collective GDP, at $1,6 trillion in 2008, is now roughly equal to Brazil’s or Russia’s and the continent is among the world’s most rapidly growing economic regions.This acceleration is a sign of hard-earned progress and promise.

While Africa’s increased economic momentum is widely recognized, its sources and likely staying power are less understood.

In order to read the full length of the report, please read more here. (You need to register at McKinsey Quarterly in order to receive the full length of the report, or email info@africaspotential.com in order to know more about the report.)

Painted by: O.A Jonas

Tinga Tinga Art from Tanzania.


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One Response to “What’s driving Africa’s growth? – McKinsey & Company.”

  1. nik says:

    November 15th, 2010 at 14:52

    this is goooooood,kindly mail growth in mining,hydro power,ragriculture.

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