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'Fast economic growth' in Africa

by Yommie | November 14, 2007 at 04:46 am | 359 views | add comment

Maponya Mall in Soweto, South Africa - 27/9/2007

The economic outlook for Africa is improving after a decade of growth of 5.4% for the continent that matches global rates, the World Bank has said.

The trend indicates that a fundamental change is occurring in Africa, a World Bank official told the BBC.

But the bank's latest report, Africa Development Indicators 2007 (ADI), says ongoing investment is needed to sustain long-term development on the continent.

Otherwise, a split may grow between affluent nations and stagnant ones.

The report looked at more than 1,000 indicators covering economic, human and private-sector development, governance, the environment and aid.

It concludes that growth in many African countries appears to be fast and steady enough "to put a dent on the region's high poverty rate and attract global investment".

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November 14, 2007 at 04:46 am by Yommie, 359 views, add comment

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