AFRICA
The continent of Africa has seen much economic activity in recent years thanks to a number of factors including exports, investment and urbanisation. The continent has long been the world’s poorest but this is beginning to change.
Predictions for the African economy indicate that it is to grow despite economic problems in other parts of the world. In 2013 the growth rate was 4.9% and figures for 2014 indicate a higher rate of growth.
These figures have been helped a great deal by exports. A number of African countries have had recent mineral discoveries which have helped their economies a great deal and this is expected to continue. Minerals including oil and gas will be significant in the growth of a number of African nations as they account for sizeable shares of worldwide
mineral reserves.
Investment in Africa continues to grow too, although there is some concern that the continent may yet be affected by problems in European economies. Agriculture on the continent has been affected by conflict and pests so food production has been reduced and some countries will struggle as a result of this.
It has been estimated that a number of African nations are becoming ‘middle- income’ countries as a result of good growth levels in recent years. The World Bank defines this status as having more than $1000 per capita income. To date 22 of Africa’s countries have reached this status and it is expected that another 10 will join their ranks within the next 12 years. There are also other countries that can achieve this status if
18
www.kmhmediagroup.com
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68