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Africa for the optimist: 2011 in review

There's been plenty of good news coming out of Africa this year. Economically, politically and socially the continent is demonstrably not the basket case it's often perceived to be. It never has been, of course, but now there's a lot more stories being told which prove it.

By Simon Allison

15 Dec 2011

Africa's booming economy

You know that things have been turned on their head when you look at the chaos going on in the world's major markets and think that Africa is the most stable place to keep your money. The fact is, while Europe and America dip in and out of recession and are much closer than is comfortable to complete financial collapse, Africa's growth rates remain at around 3.7%. The reason it's not at 5% or 6% is largely because of the impact of the global financial crisis, not Africa's own economic prospects - over the next decade, Africa is predicted to experience higher growth rates than anywhere else. The continent is also playing host to a burgeoning middle-class, predicted to number over 100 million people by 2015. All the signs point to something of an economic renaissance in Africa, which, if managed effectively, can only be good for its people.

Continue reading the full story in www.dailymaverick.co.za.

Source: Daily Maverick

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