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B&E Indicators
 
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B&E Indicators

Issue Date - 24/11/2011
 
Africa: The changing dynamics
Africa’s average rate of growth, which slowed to 3.1% during the recession, bounced back to 4.9% in 2010. In fact, it’s projected to accelerate to 5.8% in 2012, not far behind the projected growth rate of 8% in emerging Asia. Interestingly, Africa’s recent high performers have been low-income nations, such as Uganda, Mozambique, and Zambia, and not its oil exporters. On average, these countries registered growth of almost 5% in 2009 and 2010.

 
A magnet for China, India & others
Foreign direct investment (FDI) in Africa stood at $55 billion in 2010. While US and Europe continue to account for almost 80% of FDI in Africa, Asia’s contribution too has expanded significantly since 1995. In fact, the changing profile of FDI inflows into Africa is an indication of how China and India have been able to take advantage of their trade partnership with Africa to increase their investments in the continent. Africa’s exports to Asia now equal to those to the US or EU.

          

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