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'Fast economic growth' in Africa
by Yommie | November 14, 2007 at 12:46 am
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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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