spot_img

ICAEW report: Africa bets on FinTech and green economy


African economies increasingly need to create a suitable environment to encourage the development of companies in the manufacturing and services sectors in which to invest to boost growth, which cannot continue to be driven by exports of raw materials.

African economies increasingly need to create a suitable environment to encourage the development of companies in the manufacturing and services sectors in which to invest to boost growth, which cannot continue to be driven by exports of raw materials.

The need to restructure the two strategic sectors is recognized in the Economic Insight: Africa Q1 2016, the latest study of Institute of Chartered Accountants in England and Wales (ICAEW) on growth in Africa. Published in late March, the quarterly economic forecast contains numerous observations on the current state of sub-Saharan African economy, which in substance is even outlined by positive valuation showing an average GDP increase of 4.3%, between 2015 and 2020.
As well as highlight the weakness of the economy of the region is still represented by the strong dependence on raw materials, the report underlines the important role in the growth exercised by foreign direct investment (FDI), mostly from the United States and China.
The document also notes the concrete growth of the secondary and tertiary sectors. Then highlights that compared to the first half of the current decade in the next five years growth will be concentrated in a small number of countries and in many sectors, as well as based on external drivers.
The implementation of good economic policies will therefore be increasingly important also in view of the expected slowdown in the new urban job creation, which will grow at a slower pace than the increase of the population in many African cities. Of course, one of the most important challenges that many countries will face in the coming years is represented by the defense of security and terrorism that undermine business and consumer confidence.

Prospects and problems of the green economy

This content if for our subscribers

Subscribe for 1 year and gain unlimited access to all content on eastwest.eu plus both the digital and the hard copy of the geopolitical magazine

Subscribe now €45

Gain 1 year of unlimited access to only the website and digital magazine

Subscribe now €20

- Advertisement -spot_img

Environmental Sustainability Within Private Companies

Environmental Sustainability Within Private Companies

Singapore: Who Is Lawrence Wong

Brazil Suffers From Climate Change

Xi Jinping: The Trip To Europe

rivista di geopolitica, geopolitica e notizie dal mondo