JONATHAN COOK: How local business can tap into Africa’s promise
The real work of taking advantage of the world’s largest free trade area lies ahead
While the world economy is expected to have shrunk 3.5% in 2020, six of the 10 fastest-growing economies are in Africa. There is an opportunity for local companies to look beyond national boundaries for new markets as Covid continues to limit local demand.
As projected by the IMF in October 2020, the top 10 (by GDP growth) are Guyana (an oil-fuelled outlier at 26.2%), South Sudan (4.1%), Bangladesh (3.8%), Egypt (3.5%), Rwanda (2%), Myanmar (2%), Benin (2%), China (1.9%), Tanzania (1.9%) and Ethiopia (1.9%)...