Africa - Booming Economy
October 8th 2011 20:25
With the development in Asia, now it’s the turn of Africa with a fast growth rate. Earlier no one even thought of investing in Africa, but it’s believed that Africa can be a good investment market as the growth can be around 10% in the Sub-Sahara Africa.
There is very less effect of the global slowdown in the region but the inflation has increased in the region. Earlier the discussion on Africa use to focus on how to use the aid to help the African economy, but now the time has changed. The discussion is focused on mainly how to capitalize the opportunities present in the continent.
The commodities have helped the growth rates in Africa. The natural reserves in the continent have really attracted the sight of the developing countries like India and China. The Oil, minerals, ores and timber plays a major part in driving the growth rate. Africa has the world’s best natural reserves which still have to be explored. The growth rate will attract maximum of the foreign investment, making Africa important in the global economy.
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