How real is the Rise of Africa?

by Petia Dimitrova on July 16, 2013

Africa mapSub-Saharan Africa has made huge leaps in the last decade. Malaria deaths in some of the worst-affected countries have declined by 30% and HIV infections by up to 74%. Life expectancy across Africa has increased by about 10% and child mortality rates in most African countries have been falling steeply. A booming economy has made a big difference. Real income per person has increased by more than 30%, whereas in the previous 20 years it shrank by nearly 10%.

Africa is the world’s fastest-growing continent at the moment. Over the next decade its GDP is expected to rise by an average of 6% a year, not least thanks to foreign direct investment. FDI has gone from $15 billion in 2002 to $37 billion in 2006 and $46 billion in 2012.

But Africa has seen booms before, only to crash-land. Violence, corruption and bad governance are still common. Are we seeing a false dawn once again? Below is a video with argument excerpts from a debate arranged by the Economist in April 2013. Debating are Wolfgang Fengler, Lead Economist, The World Bank, Nairobi, and Rick Rowden, development consultant. A transcript of the debate can be found on this link

The Economist – How real is the Rise of Africa?

About Petia Dimitrova :

Petia Dimitrova works with project coordination in Bearing. She is originally from Varna in Bulgaria where she was involved in real estate development and also in the race car sports industry. After seven years in the United States she is now back in Europe.

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