The continent?s GDP already stands at $2 trillion (?1.2 trillion) after a decade-long growth spurt, making it larger than India?s, despite having a smaller population.
The rosy prospects for Africa are detailed in a new book by Renaissance Capital?s global chief economist, Charles Robertson, called The Fastest Billion, The Story Behind Africa?s Economic Revolution.
Robertson believes that Africa will shake off its image as the dark continent, blighted by war, famine and disease. Ahead of the book?s launch on October 31, he said: ?Africa is a great untold story. Lagos now, for example, mirrors Mumbai in the Nineties.
?The one billion people of Africa are rising and Africa?s day has come. We expect the billion Africans who in the past decade have already experienced the fastest growth the continent has ever seen to become the fastest two billion.?
| Africa is a great untold story. Lagos now, for example, mirrors Mumbai in the Nineties |
Growth is expected to be driven by a low-cost labour force, infrastructure investment, better governance, education and better health.
Source: http://www.dailyexpress.co.uk/posts/view/350637/Africa-is-ready-to-roar-as-a-global-economic-giant/
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