A familiarity with Africa’s demographics, economics, and business climate is essential to considering future trajectories of growth.
Africa’s 50-plus economies are growing at a remarkable pace: across the region, real GDP increased by an average of 4.9 percent a year between 2000 and 2008, compared with just 2.4 percent a year during the 1990s. Moreover, a number of African governments have undertaken structural reforms in recent years that are making their economies more attractive to investors. Indeed, the annual flow of foreign direct investment (FDI) into Africa in 2008 increased to $62 billion, from $9 billion in 2000.
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