NONKULULEKO NYEMBEZI: SA’s G20 presidency — balancing Africa’s strength with pragmatism
African nations have shown remarkable resilience and innovation amid myriad challenges
Africa has long been seen as a continent of untapped potential, yet its economic growth has not kept pace with regions such as Southeast Asia. The narrative often focuses on what Africa could be, without fully reflecting on the progress that has been made, nor the work still needed to accelerate the pace of growth.
In the 2010s Africa’s economic growth was projected to reach about 5.4% by the end of the decade, with expectations that 50% of the population would move to urban areas and intra-African trade would account for 25% of total trade. In reality, GDP growth has been slower than expected at about 3% per annum, compared with 5% in India and 8% in China. From 2024 intra-African trade remains modest at just 15%, and the continent faces an infrastructure funding gap of about $100bn per annum. ..
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