The African Economy consists of 54 different countries. Despite of global economic recession in 2008, Africa continues to maintain high economic growth rate. The rate of return on investment in Africa is currently the highest in the developing countries of the world. Africa is a resource-rich continent but many African people are poor.
The region has seen recent growth due to growth in sales in commodities, services and manufacturing. Africa is so far the world’s second poverty driven continent, second only to Asia in terms of poor people residing in these regions. In the last 10 years, growth in Africa has beat that of East Asian countries, including Japan.
The top economies till 2007 in Africa include Mauritania with growth at 19.8%, Angola at 17.6% and Malawi at 7.8%. Many international agencies are gaining increasing interest in investing emerging African economies.
Last Updated on : 25th June 2013