Tag Archives: GDP
GDP: Latest News
Staff, 1:01 am
Emerging markets such as Nigeria, Egypt, and South Africa are expected to grow twice as fast as advanced economies as technology improves productivity. SA and Nigeria are among the few countries expected to see a marked acceleration of annual average growth over the next few decades. However, PwC warns that to support this long-term sustainable growth, the countries need to diversify their exports to ensure their growth is not dampened by global price or demand shocks.
Kurt Davis Jr., 10:23 am AFKI Original
French cosmetics company L’Oreal has invested in organic beeswax in Mali, the surprise country for 2017. Economic growth should hover around 5-to-6 percent this year as agricultural production strengthens. Lack of investment or interest in the country in recent years means there are unexploited opportunities with many investors still sitting on the sidelines. Opportunities exist in cashews, biofuels, shea butter and cotton. This year should see some investors put cash into the country, especially in agriculture.
Dana Sanchez, 2:13 pm
After oil prices crashed, Angola could no longer service its US$25 billion debt to China. Since the loans were supposed to be paid in oil, most of Angola’s crude production now goes to debt repayment, leaving little to finance economic development. Spending has decreased by 40 percent and cuts to water sanitation and waste collection helped put Angola sixth-to-last on World Bank’s index of inequality. Unlike Angola, Mozambique’s foreign debt and accompanying economic problems cannot be traced back to Chinese loans. Instead they are the result of Chinese illegal fishing in its waters.
Staff, 5:36 pm
Poor power supply is partly to blame for the Nigerian government’s inability to build a robust auto industry. That leaves vehicle imports as one of the only ways to meet local demand. Nigeria’s auto market is worth over $4 billion a year, but it does not translate into anything meaningful, a stakeholder said. Starting in 2015, stiff new tariffs were levied on new and used Nigerian vehicle imports. Imports fell more than 50 percent.
Staff, 6:12 pm
Where there are challenges or deficits, business and investment opportunities often emerge in the informal sector. The East African informal sector contributes 30-40% of GDP. Operating off the grid (not paying taxes), informal-sector employers and employees run the risk of punishment, limited police protection, and lack of social support services. Consumers help keep the informal sector growing, and it’s not going away anytime soon. Formal companies are getting rich providing services to the millions of consumers who use informal services. Here are some of them.
Staff, 12:01 am
Ethiopia’s economy is expected to overtake Kenya’s this year, buoyed by massive government spending on infrastructure. The IMF estimates Ethiopia’s GDP will grow to $69.21 billion this year, narrowly edging out Kenya’s at $69.17 billion. Kenya is viewed as more democratic than Ethiopia, where authoritarian rule is marked by crackdowns on the press and its own citizens, such as the Oromo. Kenya also has a more open economy, while Ethiopia closes most sectors of its economy to foreign investors.
Dana Sanchez, 3:27 pm AFKI Original
With investors showing increased interest in African equity and bond markets and through direct investment, data issues are getting more urgent. Accurate and transparent statistics are essential indicators of economic potential, economists say. African countries generally fail to accurately record the size of the informal economy which could account for up to 62.7 percent of GDP. Three of the 10 countries listed here are expected to see their GDPs decrease in 2016. For others, it’s still Africa rising. Here’s what we know.
Keren Mikva, 1:52 pm
When it comes to the stuff bling is made of, Africa is enormously bountiful. Its mineral deposits make it one of the richest natural resource-laden places on Earth and everyone wants some. The following are the most mineral-rich African countries.
Alexis Barnes, 7:13 pm AFKI Original
Pregnancy is a legitimate fear in Mozambique, where 48 percent of women were married by age 18. Child brides are more likely to be poor and stay poor. Mozambique recently joined Egypt, Zambia and Ethiopia as a growing number of governments develop strategies, on paper at least, to end child marriage. “It is a waste when half the population is not contributing to the prosperity of a country,” a stakeholder said.
Kurt Davis Jr., 8:24 am AFKI Original
Seychelles Finance Minister Jean Paul Adam isn’t worried. The African island nation, population 90,000, is a top 10 honeymoon destination. It’s not a major economy or a diverse one, relying on tourism and fisheries. But lack of economic diversity leaves the country vulnerable to external shocks. Brexit, a slowing global economy, and weakening economies in other sub-Saharan countries are creating an unexpected tropical storm for this sunny patch of islands. IMF’s 3%-plus growth forecast for Seychelles may fall to 2.5%.
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