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How Sub-Saharan Africa is Making Major Moves in the Global Economy

Sub-Saharan Africa is poised to see its economic growth accelerate, according to Citi, which says the region is set to double its share of the world’s economy.

What’s happening?

The region is forecast to grow due, at least in part, to a psychological transition from Afro-pessimism to Afro-optimism,  as well as resource pricing.

The author of the report, Sub-Saharan Africa- The Route to Transformative Growthlays out his findings:

Clearly the rise in global commodity prices has played an important role in the growth pick-up throughout the 2000s in SSA, but we show that commodities have only made up about a third of the overall increase. In order to continue the growth trajectory of the past, a focus on the other two thirds of the growth story — improved political stability, better economic policy and a new wave of investment into SSA by corporates — is required.

This next decade could be a transformative period for Sub-Saharan Africa partly because the area has the resources already available to make a transition.

The question which has yet to be answered is whether leaders in Africa will be able to maintain consistent economic growth. The region has been plagued by wars, and destabilizations.  There are also a number of infrastructure challenges, but if business leaders and government officials are committed, they can push forward and gain economic power in the 21st century.

3 Responses to How Sub-Saharan Africa is Making Major Moves in the Global Economy

  1. Derrick Reply

    November 23, 2012 at 10:07 am

    Every nation on this planet is STEALING from Afrika, while Afrikan people continue to starve, die, and be injected with aids.

    Japan, China, Germany, Canada, England, and the unuted snakes of amerikkka are there RIGHT NOW, stealing the diamonds, gold, silver and other raw materials from our people. Over 25% of oil is shipped from Afrika to amerikkka, as I type.

    There are countries in Afrika, who have high speed rail systems [Nigeria is one of them], and they are going to expand this rail system within 25 years across the continent! The Chinese are building this rail system, while Afrikans are left without work!

    Blacks need to start importing and exporting with our Brothers and Sisters in Afrika, and stop begging these crackers for crumbs. There are Black Afrikan millionaires and billionaires in Afrika, who employ their OWN people. One of them OWNS a construction concrete company, who is from Nigeria, and he’s a billionaire!!!

    What happens to Afrikans in Afrika, also happens to Afrikan Blacks, here in racist amerikkka.

    AFRIKA HAS MORE WEALTH THAN ANY NATION ON THE PLANET!!! THESE YANKEES HAVE BEEN USURPING AFRIKA, SINCE BIBLICAL TIMES, AND THEY DON’T PLAN TO STOP UNITL OUR PEOPLE ARE d**d!!!

    WAKE UP FOLKS AND STOP DOWNING AFRIKA BECAUSE THERE ARE SOME CITIES IN AFRIKA THAT WILL MAKE MIAMI LOOK LIKE A GHETTO!!

    CHECK OUT THIS VIDEO: The top 10 countries and Africa

    The most beautifullest women in the world reside in the Motherland!!!

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