What Evidence Is There For A Boom Of Economic Growth In Sub-Saharan Africa Case Study
1. What evidence is there for a boom of economic growth in Sub-Saharan Africa? What four factors have been fueling this growth?
The main evidence of the boom in Sub-Saharan Africa is that seven of the ten fastest-developing world's economies are in Africa. Some countries have witnessed the growth of the income per capita while other countries show stable rates of economic growth locking new investors, and creating new opportunities for further development of industries in the region. The Sub-Saharan countries increase their participation in the world's economy, and the growth rates are higher than in some of the developed countries. One of the factors that highly contributed to the development of Sub-Saharan countries are the high prices for …show more content…
For example, the East Africa is witnessing infrastructure development like the construction started in Kenya. Prior to the global financial crisis, the East Africa was one of the fastest-growing regions with seven-percent growth of the economy. An impressive number of people were drawn from poverty. Besides, nowadays the mobile companies are competing for business, the countries are exporting their products, and the attempts to establish a connection to the world prove that there are perspectives for development. Central Africa is nowadays a shelter of corruption. For example, exporting oil production should have risen the wealth of people, but it benefits the authorities only. Still, in the Democratic Republic of Kongo is claimed to face the development due to the end of the war and numerous international investments. The Southern Africa has a potential in terms of producing diamonds, and this sphere development is predicted to bring large benefits to Botswana. In addition to this, Southern Africa has established itself as the exporter of goods in Asia which reduces the risks connected to the European market. Finally, the West Africa also can face developments, considering the possibility for Niger to expand its economy due to the increase of production. Moreover, new oil discoveries in the Gulf of Guinea also are the signs that predict the development of the countries in the region. Thus, these African regions tend to show positive tendencies in the process of development that will continue and contribute to the wealth of the
The main evidence of the boom in Sub-Saharan Africa is that seven of the ten fastest-developing world's economies are in Africa. Some countries have witnessed the growth of the income per capita while other countries show stable rates of economic growth locking new investors, and creating new opportunities for further development of industries in the region. The Sub-Saharan countries increase their participation in the world's economy, and the growth rates are higher than in some of the developed countries. One of the factors that highly contributed to the development of Sub-Saharan countries are the high prices for …show more content…
For example, the East Africa is witnessing infrastructure development like the construction started in Kenya. Prior to the global financial crisis, the East Africa was one of the fastest-growing regions with seven-percent growth of the economy. An impressive number of people were drawn from poverty. Besides, nowadays the mobile companies are competing for business, the countries are exporting their products, and the attempts to establish a connection to the world prove that there are perspectives for development. Central Africa is nowadays a shelter of corruption. For example, exporting oil production should have risen the wealth of people, but it benefits the authorities only. Still, in the Democratic Republic of Kongo is claimed to face the development due to the end of the war and numerous international investments. The Southern Africa has a potential in terms of producing diamonds, and this sphere development is predicted to bring large benefits to Botswana. In addition to this, Southern Africa has established itself as the exporter of goods in Asia which reduces the risks connected to the European market. Finally, the West Africa also can face developments, considering the possibility for Niger to expand its economy due to the increase of production. Moreover, new oil discoveries in the Gulf of Guinea also are the signs that predict the development of the countries in the region. Thus, these African regions tend to show positive tendencies in the process of development that will continue and contribute to the wealth of the