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
Portfolio Reallocation of Private Capital Flows to Africa
Dec 16th 2011
Trend and composition: Foreign capital inflows have recovered in post-crisis period, reaching a high of US$72.1 billion in 2010, but still below the pre-crisis peak of US$79.0 billion. Recent trends in capital inflows have principally been driven by foreign portfolio investment (FPI), which peaked at US$22 billion since the crisis (Figure 1). In the meantime, foreign direct investment (FDI) in Africa, which has largely been directed towards extractive sectors, has continued on the downward path.
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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”.
