The most developed area is that of the sub-Saharan countries, although last year a series of factors slowed their economic growth. Africa can consider itself the new China, and thus the innovative frontier in development trends is more than promising. VuBlog offers a brief review of some interesting online contributions on this subject.
The sub-Saharan countries are the most developed
As reported on the website Africa.com, in Ethiopia, Democratic Republic of Congo, Ivory Coast, Mozambique, Tanzania and Rwanda one finds the highest rate of annual economic growth in the forecast. The estimate is 4.6%, but in the last year there was a bit of a setback. Among the causes, explains Focus Economics, low-cost raw materials, political instability, unfavourable weather conditions and scarcities in water and electricity.
The “new” China
As stated by Watly CEO Marco Attisani and reported by Africa Outlook, “Africa is now considered as the China of 30 years ago, even if it is currently hobbled by a lack of infrastructure. Its real economic emancipation lies in its ability to get truly involved and compete on an equal level on the world stage.”
A new frontier for investment
The time for resurgence really seems to have come for the African continent. In fact, although it is paying for the slowdown in China and the decline in prices for raw materials, the estimate for its GDP is reassuring: in 2016, Africa will record economic growth better than 4.25%, as is also reported by Repubblica.it.
By 2025, a GDP of more than 4.5 trillion dollars
According to businesscommunity.it, which reports on a study done by Frost & Sullivan, in Africa there are still many opportunities not taken and an enormous potential for development. Experts say that the continent is destined to become the second fastest expanding geographic area in the world between now and 2025, with a GDP of 4.5 trillion dollars.