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Archive for October 4th, 2012

Despite Global Slowdown, African Economies Growing Strongly

Posted by Business in Ghana on October 4, 2012

World Bank Urges Countries to Spend Their New Oil, Gas, and Mineral Wealth Wisely 

 WASHINGTON, October 4, 2012  Sub-Saharan Africa is expected to grow at 4.8 percent in 2012, broadly unchanged from the 4.9 percent growth rate in 2011 and largely on track despite setbacks in the global economy, according to the World Banks new Africas Pulse, a twice-yearly analysis of the issues shaping Africas economic prospects.

Excluding South Africa, the continents largest economy, growth in Sub-Saharan Africa is forecast to rise to 6 percent. African exports rebounded notably in the first quarter of 2012, growing at an annualized pace of 32 percent, up from the -11 percent pace recorded in the last quarter of 2011. Read the rest of this entry »

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