Africa Rising

We hear a lot these days about “Africa Rising” – and with good reason. The region is growing at a record rate, with six of the world’s 10 fastest growing economies in the last decade in Sub-Saharan Africa.

Enabled by reforms in macroeconomic management, by high commodity prices, and by increasing exports of extractives, this growth has created a spirit of optimism, encouraged foreign investment, and provided an incentive for young Africans to return home after being educated abroad. Increasing earnings among some sectors of society have supported the emergence of an African middle class, with promising purchasing power.