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COUNTRY FOCUS South Africa


taking place in Sub-Sahara Africa. Between 2000 and 2011 Sub-Sahara Africa (SSA) achieved Real GDP growth of 6.0 per cent compared to 1.9 per cent in the EU and 2.0 per cent in the US while the Middle East and North Africa achieved 5.3 per cent according to the International Monetary Fund (IMF) World Economic Outlook Database (October 2012). This is exceeded by only Developing Asia at 9.0 per cent.” The IMF report predicts that Sub-Sahara Africa’s GDP will


slow to 5.8 per cent with the EU static on 1.9 per cent and the growing to 3.5 per cent and Developing Asia slowing but still on top with 7.6 per cent. (See Table 1) This positive view is echoed by Ernest & Young’s Africa on


the Move report compiled in collaboration with the Skolkovo Institute for Emerging Market Studies in Moscow saying that significant reforms in macroeconomic management and improved incentives for the private sector, amongst other factors, has spurred growth in many African nations. The Ernest & Young Africa on the Move “attractiveness


survey” provides evidence of the growing interest in the con- tinent as an investment destination and place to do business. Over the past decade, Africa’s GDP has more than tripled. According to The Economist, in 8 out of the 10 years from 2000, Africa grew faster than East Asia.1


) Parts of Africa are well on the way to becoming some of


the most dynamic places in the world for investment. In recent years, an encouraging economic environment — with significant reforms in macroeconomic management, improved incentives for the private sector and a broadly favorable international context for commodity exporting countries — has spurred high growth rates in many African nations. While most of the world is facing major economic and political uncertainty, Africa is expected to continue its growth trajectory in the coming years. According to the IMF, growth in sub-Saharan Africa (SSA)


is expected to average 4.8 per cent in 2012 and 5.4 per cent in 2013 2


and 5.7 per cent in 2014 on the back of rising invest-


ment and booming extractive industries.The Economist also predicts that between 2011 and 2015, seven of the world’s 10 fastest-growing economies will be African. But, notes Vorster, the indicators are not just positive.


Apart some a degree of political instability and civil strive on the African Continent, one has to take note that between 1994 and 2008, exports from SSA countries averaged a growth rate of 13 per cent per year, compared with the US at 4 per cent, Germany 8 per cent, India 13 per cent and China 19 per cent. However, their share in the world’s export mar- kets is still negligible. The top five exporters - South Africa, Nigeria, Ghana, Kenya and Zambia - together contributed only 1 per cent of global exports in 2010, according to the World Development Indicators, World Bank, 2012.


FACTORS DRIVING AFRICA’S SUCCESS In recent years government reforms and initiatives have


44 thinkinghighways.com Vol 8 No 2 Europe/Rest of the World


South Africa’s population have a number of choices of transport mode - some more popular than others. Buses, minibuses, trains, private cars... and walking to name but a few


Left: ITS Nigeria signed a Memorandum of Understanding with ITS South Africa at the ITS World Congress in Vienna


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