INVEST IN AFRICAN COUNTRIES, THE WORLD NEW INDUSTRIAL HUB & EMERGING NATIONS Growth in Africa is expected to exceed 5% in 2015-16 In-spite of the Problems like Ebola and Arm rebel Groups in African Countries.........against ALL ODD yet with prayers the Promise Land and Glory Land is moving ahead One Step at a Time.........Glory to God for MAMA AFRICA....It is set time for Africa: A statement from the World Bank expressed optimism that institution with a shade on the threats raise Ebola and terrorism. WASHINGTON, Oct. 7, 2014 - African economies continue to grow at a steady pace despite a weaker than expected global growth and stagnation or a decline in commodity prices. Africas Pulse, semi-annual publication of the World Bank, which analyzes the economic prospects of the continent, provides a GDP growth of 5.2% in 2015-16 against 4.6% in 2014. The sharp increase in public investment in infrastructure, increasing agricultural production and the development of services in the areas of trade, telecommunications, transport and finance should continue to boost growth. This resumption of growth is expected despite a marked decline in the price of raw materials and foreign direct investment linked to the slowdown of the global economy situation. The report emphasizes that the price of raw materials remains a key factor in the economic prospects of the continent: Raw materials still represent three-quarters of total exports of goods in sub-Saharan Africa and the share of the top five exporters in the region in total exports reached 60% in 2013 against 41% in 1995 Africa should remain according to plan, one of the three regions of the world in the fastest growing and is expected to build on the momentum of the past 20 years, marked by steady growth, said Francisco Ferreira, economist Chief of the Africa Region of the World Bank. The risks appear to anticipate rising public deficits in many countries, the most urgent economic impacts associated with terrorist groups like Boko Haram and al-Shabab and so Ebola epidemic that has hit Africa West. Last September, the World Bank published a study on the potential economic impact of Ebola. It concluded that if the virus continues to spread in the three most affected countries, namely Guinea, Liberia and Sierra Leone, the economic impact could find almost tenfold, with devastating consequences for those states already weakened. The Group of the World Bank has allocated a budget of $ 400 million for these countries. The growth trends in Africa: structural problems and lack of investor confidence have dramatically slowed economic growth in the South, second economy Subcontinent Africa. The South African economy was a timid growth rate of 1% in the second quarter of 2014 year on year, its lowest level since the financial crisis of 2009 Economic activity is enhanced in Nigeria contrary, the first economy of the region. GDP has grown from 6.2% in the first quarter of 2014 to 6.5% in the second quarter of 2014 year on year. Growth remained strong in many low-income countries such as Côte dIvoire, Ethiopia, Mozambique and Tanzania. In Côte dIvoire, for example the significant increase in the production of cocoa and rice has boosted agriculture and helped to sustain high economic growth. Agriculture and public investment (especially in infrastructure) continue to boost the Ethiopian economy. Inflation rates have gradually increased in a number of countries. There is a peak of inflation in the countries of emergence that have also experienced strong currency depreciation, particularly Ghana. For some countries such as Ghana and Zambia, the situation of public finances remains fragile due to the increase in current spending, driven by an increase in wages, and in some cases, lower than expected revenues. In addition, large public deficits reduce the ability of countries to respond to exogenous shocks by reducing their budget reserve. It is crucial to transform African economies by analyzing the structural changes and dynamics of poverty in Africa, Africas Pulse notes that the area is industrialized bit from next to a key factor for growth and employment. This study shows that the extraction of natural resources and the services sector supporting Africas growth. The contribution of industrial and agricultural output growth decline, even though most workers and 80% of the poorest people earn most of their income from subsistence farming. African economies have been transformed by nearly two decades of strong growth, but structural changes were not at the rendezvous. The majority of jobs in Africa are agricultural, even if the services are growing strongly, in contrast to the industrial and manufacturing sector, says Punam Chuhan-Pole, Senior Economist at the World Bank and co-author of this publication. The good news is that in Africa the growth of agriculture and services has done more to reduce poverty than growth in the industry. In the rest of the world, however a stronger contribution of industry and services to the decline in poverty is observed,. Punam Chuhan-Pole says that between 1996 and 2001 per capita growth in services rose 2.6% on average, against 0.9% in agriculture and 1.7% in industry. She added that the growth model and economic transformation of Africa has a significant impact on reducing poverty: increasing agricultural productivity and promote income diversification in rural areas (by releasing a portion of the hand of agricultural work) leads to structural changes that reduce poverty. The development of local economies and jobs in rural areas calls for more public investment in order to improve the supply of goods and services in the areas of education, health, transport, energy and technology Information and communication technologies (ICT). Finally, the report stresses that if manufacturing is not a panacea, but it is necessary for Africa to develop its industrial base. All sectors would benefit from better fundamentals: favorable business climate, macroeconomic stability, access to reliable and affordable energy, cheaper transport and labor more skilled. The support of the World Bank in Africa: The World Bank Group has strengthened its commitment to Africa by funding 160 projects during this fiscal year, for a total of $ 10.6 billion. This effort includes a record $ 10.2 billion in interest-free loans and grants, awarded by the International Development Association (IDA), a record in the history of the World Bank. CAMEROON Proposals Reviewed to Boost Economic Competitiveness Managers of enterprises, civil society have been sensitised on indicators for economic growth. Improving the competitiveness of the economy and enterprises is the main subject of a two-day forum that kicked off at the Sawa Hotel in Douala on October 9. Organised by the Competitiveness Committee with the support of the United Nations Industrial Development Organisation, UNIDO, and the European Union, EU, the forum sought to sensitise managers of locally-based enterprises and to validate indicators of competitiveness from the Competitiveness Observatory. The objective is to sensitise the participants on the proposals set up by the EU and UNIDO as a pointer to the state of competitiveness of the Cameroonian economy. Participants to the forum were representatives of the public and private sectors, universities, civil society, and economic experts, among others. “We will review the proposed variables in order that they are applicable to the development of the Cameroonian economy,” said Daniel Claude Abate, President of the Competitive Committee who doubles as the Executive President of the Cameroon Entrepreneurs Movement, MECAM, while opening the forum in the presence of Claude Ferrier, Chargé des Programmes of the EU delegation. He expressed the fact that the absence or poor state of road infrastructure, high electricity and telephone costs, as well as the comparatively cheaper products imported to the country to locally-made products of the same quality shows that the economy still needs to attain a favourable competition level. The Competitive Committee has members both from the public and private sectors, charged with improving the competitiveness of the economy and enterprises. The present forum is in line with competitive strategy for the economy adopted by government in August 2010. FOR CAMEROON DIASPORA ASSOCIATION IN ASIA CAMDA HEAD OFFICE INDIA: [email protected] / [email protected] & camdaasia@gmail
Posted on: Mon, 20 Oct 2014 23:48:50 +0000
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