Top 15 growing economies: 10 from Africa

As the global economy totters from crisis to crisis, Africa is fast becoming a magnet for investments and a safe haven for international capital.

Two institutions, the United Nations Economic Commission for Africa and the African Union Commission, are working with African policy-makers to unleash the potential that this new development offers.

Of the top 15 fastest growing economies in the world today, 10 are African. Foreign direct investments to Africa have increased from $9 billion in 2000 to $62 billion in 2009 and are expected to continue to rise in the near future. Portfolio investments were also a healthy $22 billion in 2010. Also in 2010, two African countries had a higher per capita GDP than China, and six more than India.

More reassuring, it is not only the resource-rich countries that are experiencing this growth — many African countries that do not boast of oil or mineral wealth are growing as well. The growth resurgence has transformed Africa from the world’s slowest growing regions into one of the fastest.

Read the complete article on The East African

Laat wat van je horen