Fastest growing nations in the world are in Africa

Various African countries that continue to make significant economic growth of between 6-8% annual growth prove the 'Africa Rising' notion true. However, high poverty levels impede inclusive growth of the poor.

Speaking to Africa analyst and strategist, Kofi Kouakou, 702/Cape Talk's Eusebius McKaiser delved into the question of whether Africa is a place of doom and gloom.

Kouakou said that it's important to have an understanding of each country's gross domestic product (GDP), political economy and governance complexities to measure each country's successes and failures.

He said Democratic Republic of Congo (DRC), Ethiopia, Tanzania, Rwanda, Senegal, Mozambique and Ivory Coast are some of the countries that tell a good story for Africa's economic advancement.

Listen to the conversation below:

The truth... the statistical evidence is telling us that some of the fastest growing nations in the world are in Africa.

Kofi Kouakou, Africa analyst and strategist

Kouakou said that the major sectors which have seen significant growth are ICT (information communication technology), financial services, extracting commodities and consumables.

Usually most African countries have grown in the commodities field, but there's also growth in the consumption and financial sector.

Kofi Kouakou, Africa analyst and strategist

This article first appeared on 702 : Fastest growing nations in the world are in Africa


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