by Marco Annunziata, Chief Economist, GE
Africa is increasingly seen as the most promising growth region in the global economy. Its potential has long been recognized, given abundant natural resources and a large, young and fast-growing population. Over the past decade this potential has begun to turn into actual performance, as economic reforms and improvements in governance and institutions have broken a long history of economic instability, conflict and corruption.
If this time it is for real, Africa represents a tremendous opportunity for the global economy and for global industry players, who can contribute to developing the massive endowment of oil and other commodities, building the infrastructure needed to foster economic growth, from railway links to power generation, and improving both distributed and urban health care provision. African businesses are also poised to reap substantial rewards: they recognize the disruptive potential of accelerating innovation as the digital world meets the physical, and they are ready to become enthusiastic early adopters of new technologies. Most importantly, this is a tremendous opportunity for Africa’s citizens to enjoy a rapid and sustained rise in living standards. – Read moreRead More