Selected statistics from the World Bank’s Regional Brief on Africa:
7. Between 1990 and 1999 PPP GDP per capita growth was 15 percent ($1,158.9 to $1,327.8) for Sub-Saharan Africa; in between 2000 and 2008 it was 54 percent ($1,372.9 to $2,113.9).
8. Exports rose from $319.0 billion in 2007 to $413.7 billion in 2008, a 29.7 percent rise; conversely, imports rose less than exports, from $305.3 billion in 2007 to $372.1 billion in 2008, a 21.8 percent rise. Continue reading
by Margot Bokanga
1. Telecommunications remained one of the fastest growing sectors in emerging markets last year, with African mobile phone use increasing more rapidly than anywhere else in the world.
2. The East African Community emerged as the most evolving regional trade bloc on the continent, with major agreements and accomplishments achieved in 2009.
3. African banks survived the global economic crisis by continuing to attract investment from across the continent and even from Asia with prudent lending and investment policies.
4. Despite the global economic crisis, African economies continued to attract foreign investors like CDC Group who saw the continent’s impressive return on investment and potential for high rewards.
5. The Aid Trap, a unique approach to development written by Glenn Hubbard and William Duggan, proposed that the US government make direct loans to businesses in the developing world and encouraged investment in infrastructure.
6. South-South trade and investment – particularly exports from Asia to Africa – tripled in the last five years, making Asia Africa’s third largest trading partner (27% of trade) after the EU (32%) and the US (29%).
7. At the Copenhagen climate change conference in December, Africa emerged as a powerful bloc when the continent staged a successful, unified walkout to prevent African interests from falling by the wayside.
8. While oil and mining has often been the main area for investment in Africa, in 2009 Africa offered new opportunities – particularly in the construction of undersea cables.
9. The World Bank’s Doing Business 2010 report noted that the business environment is continuing to improve in key countries on the continent: in particular, Rwanda was ranked the world’s top business reformer and Mauritius became the first African country to break into the top 20 countries to do business.
by Tom Haslett
One of the most important questions facing multinational corporations today is whether they can make a profit with products and services marketed to the poor in developing countries. Many companies are actively exploring this approach with a variety of goods meant to reach consumers with limited expendable income: this is called a “bottom of the pyramid” strategy. As firms search for new opportunities, Africa represents a particularly large and attractive market to tap. Equally importantly, new innovations that earn a profit for their creators can also serve the continent’s people as a powerful tool for development. Continue reading
President Kagame calls for strong health leadershipBy Meg Dallett
Last week I attended the DC launch of the World Bank and IFC’s Doing Business 2010 report, which annually measures business reforms and ease of doing business around the world. The report ranks countries using ten indicators of how long or arduous it is to do business in those countries – things like starting a business, getting credit, and enforcing contracts – and highlights countries that make progress in any of those areas. Continue reading
by Adanma Osakwe
Technology has become a major driving force for change and opportunity throughout the world. It has transformed many lives, and the unprecedented access to technology that today’s youth in Africa have allows them to compete with their peers in the global digital economy.
Young people gain a major advantage in terms of education, economic, and social opportunities when they have access to computers. Strategic use of technology can boost wealth creation and alleviate unemployment– providing marginalized individuals in rural communities with technological tools for training can help them to realize their economic potential. Continue reading
“If the Obama administration wishes to truly make a difference, it must do so as an equal partner.”
In a bold and compelling op-ed last week, President Kagame of Rwanda, President Ellen Johnson Sirleaf of Liberia, President Seretse Khama Ian Khama of Botswana, and President Abdoulaye Wade of Senegal argued that the US needs to approach Africa as a partner, not a benefactor. I commend this piece and hope the Obama administration will take a close look at the approach it is taking to working with Africa. Continue reading
Kenyan PM Odinga addresses the AGOA Forum. Source: KICC, 2009 AGOA 8th Forum.
The world has come to expect strong and dynamic leadership from the Obama administration. In the campaign, they promised to bring change and new ideas to domestic and international policy and to redefine and recalibrate the US’s role in the world. At the 8th Annual AGOA Forum-the annual US-Africa Summit-held this week in Kenya, however, it was the African leaders who broke new ground. Continue reading
By Meg Dallett
After the UN Conference on Trade and Development (UNCTAD) reported last year that Africa provides the highest rate of return on foreign direct investment (FDI) of any developing region in the world – over 12% – it’s hardly surprising that private investment in Africa is increasing exponentially. In just seven years, FDI to Africa grew by over 550%, skyrocketing from $9.1 billion in 2001 to $60 billion in 2008. Continue reading
In this issue:
By Meg Dallett
Amidst the omnipresent news stories about countries and industries suffering in the global economic crisis, there’s good news coming out of East Africa: according to the African Development Bank’s African Economic Outlook 2009, growth for the region is expected to be about 5.5% for this year. This is much, much better than almost every other region in the world is expected to do. Continue reading
Published at allAfrica.com – Trade Talk with Rosa Whitaker
by Rosa Whitaker
Slowly but surely, President Obama’s Africa policy is beginning to take shape. In my twenty-five years of work on African economic issues, I’ve seen consecutive US Administrations become increasingly more committed to Africa’s development. I don’t believe President Obama will be an exception. The fact that his overall foreign policy is driven by experienced-hands with Africa expertise gives reason to believe that Africa will be well-integrated and supported within the broader US foreign and economic policy construct. Continue reading
The other night I attended the launch of the Liberian Professional Network, the latest in a series of new organizations with the potential to revolutionize the way African expatriates can help develop their home countries. LPN brings together professionals in the Liberian diaspora to network, socialize, and support social causes and investment ventures back in Liberia. Diasporas have historically given significant financial support to their home countries – Liberia received $300 million in remittances in 2007 – but what sets groups like LPN apart is that they can coordinate all those resources to get a greater return. Continue reading
This year marks the 15th anniversary of the Rwandan genocide, in which 800,000 people were murdered – there will be commemorations throughout the world on April 7th, the day that the genocide began. I was in Kigali last week and was struck by a number of things – how clean and beautiful the city is, how many NGOs and multilateral organizations are working there, and how many women are involved in every sector of society. Continue reading
By Meg Dallett
“Entrepreneurship” is a hot topic in development – in much of Africa, where the private sector was marginalized for so long, small business owners are a key part of driving growth. But running a successful business takes more than a good idea, and many entrepreneurs struggle because they lack training in business management. Continue reading
get updates via:
The Whitaker Group (TWG) is the premier strategic consulting firm in the US creating sustainable prosperity in Africa. We facilitate trade and capital flows to Africa and believe in the capacity of Africa and her people to meet the challenges of the 21st century.