3 reasons things are looking up for African economies: McKinsey & World Economic Forum

In 2010 the McKinsey Global Institute (MGI) described the potential and progress of African economies as “lions on the move”. Today, despite the collapse of global commodity prices and political shocks that have slowed growth in North Africa, Africa’s economic lions are still moving forward.

Overall, the continent achieved average real annual GDP growth of 5.4% between 2000 and 2010, adding $78 billion annually to GDP (in 2015 prices). But growth slowed to 3.3%, or $69 billion, a year between 2010 and 2015. Has the shine come off Africa’s growth story? New research from the MGI that will be published in full in October concludes that the answer is no, but it is clear that the continent’s growth story has become a more nuanced one.

Read more: What’s the future of economic growth in Africa? | World Economic Forum

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