For the past decade, Africa has had strong growth. A new economic momentum has been created. The continent weathered the financial crisis and has bounced back. But headline economic growth is not enough. Deliberate policies to reduce inequalities and promote inclusion are now needed more than ever before. It is time to focus on what people want: decent work, a living wage, access to basic service, more democracy and accountable governments. Africa and its people aim to be a pole of growth in the decades ahead. Read more
China’s New Development Model and Implications of Long-Term Demand for Base Metals
Sep 17th 2012
China’s rapid growth over the past ten years has made it the largest consumer of industrial metals (steel, copper and zinc). In 2011, China accounted for close to 50% of global consumption for base metals. However, recent studies have cautioned that this China-driven boom for industrial metals may be nearing its end, as the Chinese government targets slower, less commodity-intensive growth. China’s 12th Five-Year Plan for 2011-2015 calls for a growth model that focuses on the establishment of a long-term mechanism to boost domestic demand.
The Expansion of Chinese Influence in Africa - Opportunities and Risks
Aug 14th 2012
China has increasingly become an important economic player in Africa. Chinese investments in Africa span across many sectors and are not confined to Chinese government and large state-owned companies. Several private Chinese companies have also invested heavily in Africa. For example, Huawei, a Chinese leading global telecom services provider, has invested a total of USD1.5 billion and employs 4000 workers in Africa.
Mthuli Ncube
Professor Mthuli Ncube is the Chief Economist and Vice President of the African Development Bank, and holds a PhD in Mathematical Finance from Cambridge University, UK, on “Pricing Options under Stochastic Volatility”.
