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BUSINESS TRENDS IN AFRICA 2019 : The Ascendent Middle Powers

10 January 2019

When McKinsey surveyed the top 30 African economies in 2011, they found 25 were experiencing "accelerated growth." In the most recent survey of the same countries, the figure was just 13. Rather than the continental powerhouses, it is the mid-sized economies such as Ethiopia and Ivory Coast that offer the greatest promise.

Leke picks out Ivory Coast as a model of stable progress, having recorded steady growth since emerging from a civil war and financial crisis around the turn of the decade. He cites high levels of government investment and infrastructure development in partnership with Chinese firms as key factors in the country's performance, and suggests that "huge investor interest" from the private sector can keep the economy buoyant. The coming years should see growth become more inclusive with progress in sectors such as health and education.

Source: By Kieron Monks, CNN
image: A model of the new Olympic stadium under construction in Ebimpe, ahead of the 2021 African Cup of Nations (CAN)

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