A closer look shows that there are seven oil exporting countries led by Nigeria and Angola, whose economic growth amounted to 6 percent last year rising to 7.1 percent this year and dropping to 6.1 percent next year according to the IMF forecast.
Another eleven countries, termed middle income ones led by South Africa, have their GDP registering 4.3 percent last year, dropping to 3.4 percent this year and back again rising to 4 percent next year, while 14 countries of low income led by Kenya and Ethiopia show their growth rate stabilizing during the three-year period under review at 5.8 percent, 5.9 percent and 5.9 percent respectively.
And finally the last group comprising 12 fragile countries led by Burundi and Comoros show their economic growth shooting up from 1.7 percent last year to 6.6 percent this year to moderate at a lower rate of 5.8 percent next year.
Such growth that seemed to be out of reach and expectations over the past decade enjoys the possibility of sustainability and the picture looks more buoyant than definitely Europe and North America. In fact over the past decade statistics show that six out of the ten fastest growing world economies were in Africa.
Not only that, Africa even managed to weather the 2008 financial crisis.- Africa, the new land of opportunity - MENAFN