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Africa Report 2013

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Africa Report 2013

Africa’s growth over the last decade has, to a large extent, been driven by rising commodity prices. Most notably, the oil producing nations of West Africa have benefitted greatly from soaring oil prices, while growth in Zambia has been boosted by its copper industry, which accounts for around 75% of the country’s export earnings. However, the commodity boom has not been the sole engine of Africa’s growth, and countries with fewer natural resources, such as Rwanda and Ethiopia, have also grown strongly in recent years. Increased political stability, reduced trade barriers and improved governance have all been important factors aiding growth in many countries.

Source: Knight Frank

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