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African Development Report 2011
Africa’s private sector is coming of age: It is poised to become the main engine of growth for the African continent.
Over the past decade, African countries have made great strides in improving their economic management and creating a better business climate. Countries such as Mauritius are leading performers on the global competitiveness index. These achievements are demonstrated by the remarkable growth in construction, retail, telecommunications and financial services of recent years. This in turn contributed to Africa’s relative resilience in the face of the global financial crisis. We are also witnessing the emergence of a new African middle class with money to spend on consumer items, creating exciting new opportunities for business.