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NGOs and trade unions
working together for social justice

       
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Deprecated: mysql_connect(): The mysql extension is deprecated and will be removed in the future: use mysqli or PDO instead in /var/www/htdocs/theglobalnetwork/public/include/site_functions.php on line 32 Economic analysis of a growing continent: "Africa at a crossroads"


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On 25 May 2013 African leaders gathered in Addis Ababa to celebrate the 50th anniversary of the African bloc, first as the Organisation of African Unity (OAU) and today as the African Union (AU). For the celebration they set aside Africa’s problems to mark the progress the continent has made.

"Indeed, Africa’s image as the dark continent of famines and civil wars is slowly fading and is being replaced by its acknowledgement as a place of growth and lucrative investment. The last decade has been  a  period  of  continuous  growth  for  the  region  averaging  over  5  per  cent  per  year  despite  a weaker global economy.  The growth was driven by the high demand for basic commodities and it is predicted that this demand for natural resources with high prices will stay for another decade. This creates  for  African  countries  a  unique  window  of  opportunity  to  use  the  windfall  profits  for investments in the future to change their economies from being resource2driven to ones with higher value added growth. Such change is imperative to lay the foundations for sustainable growth. Africa is at a crossroads."

Read the full FEPS analysis: "Africa at a crossroads"

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