Economy

THE WORLD BANK IN AFRICA

Sub-Saharan Africa’s opportunities are vast, and its challenges persistent. Home to the world’s largest free trade area and a 1.2 billion-person market, the continent is poised to create an entirely new development path harnessing the potential of its resources and people.

Average growth rates across the continent are not yet reflecting this sentiment. Growth in Sub-Saharan Africa is projected to rise to a modest 2.6% in 2019 from 2.5% in 2018, which is 0.2 percentage points lower than the April forecast. However, this masks big differences between countries. Four of the fastest growing economies in the world in 2019 are in Africa: Cote d’Ivoire, Ethiopia, Ghana, and Rwanda...continue reading.

THE 2019 ECONOMIC OUTLOOK FOR AFRICA - ADB

This year’s African Economic Outlook from the African Development Bank shows that the continent’s general economic performance continues to improve. Gross domestic product reached an estimated 3.5 percent in 2018, about the same as in 2017 and up from 2.1 percent in 2016. Africa’s GDP growth is projected to accelerate to 4.0 percent in 2019 and 4.1 percent in 2020.

But even that growth is not fast enough to address persistent fiscal and current account deficits and unsustainable debt. Indeed, countries have to move to a higher growth path and increase the efficiency of growth in generating decent jobs. The 2019 Outlook shows that macroeconomic and employment outcomes are better when industry leads growth... continue reading.

THE GDP OF SUB-SAHARAN AFRICA

2018 data from the World Bank reveals that Seychelles (with a GDP per capita of $16,433.9) tops the GDP chart of the Sub-Saharan Africa. Compared with the highest GDP clout in the world in 2018 ($113,954) which was held by Luxembourg, the Sub-Saharan African case was a far cry... continue reading

AFFORDABLE HOUSING DEFICIT IN AFRICA: THE CHALLENGE

The Pan-African housing development financier, Shelter Afrique, has said that African continent requires four million housing units per year to meet its housing needs, adding that the continent is facing acute housing crisis.

According to Shelter Afrique, majority of African countries are facing a housing crisis as a result of high population growth, increased urbanisation and low supply of affordable housing.

Speaking recently in Nairobi at the inauguration of Karibu Homes, a low-cost housing project financed by the organisation, Shelter Afrique Chairman, Daniel Nghidinua, said the situation is compounded by lack of affordable housing finance, high cost of urban land and weak tenure security, rising construction costs and rapid growth in slums... CONTINUE READING.