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Growth - sure, but Africa's competitiveness lags the world
After prolonged economic stagnation, and at times even decline, Africa is experiencing an economic resurgence.
Between 2001 and 2006, growth in gross domestic profit (GDP) averaged 4,9 percent annually, according to the International Monetary Fund (IMF). In 2006, Africa as a whole grew by an impressive 5,5 percent and sub-Saharan Africa in particular by 5,7 percent. In 2007 these rates are expected to increase even further — to 6,2 and 6,8 percent.
In particular, foreign direct investment (FDI) has been picking up, with increasing activity by booming emerging markets, drawn by the continent's rich natural resources. Accordingly, the overall outlook for the region's economic prospects is broadly optimistic. But...
