Business
Intra Africa trade grows as continent’s dependency on trade with Europe declines
Trade with Africa – and within Africa – has seen a number of new developments in recent years as new trading partners become more prominent and the world starts to turn towards the continent’s various economic opportunities.
Investment between African countries has almost doubled in the past five years, to 13 percent as overall western foreign investment and trade with Africa has contracted.
(More: Africans investing more in Africa as western interests scale back)
Additionally, according to recent reports by South Africa’s Standard Bank, trade between Africa and the BRICS (Brazil, Russia, India, China and South Africa) bloc has grown faster than the economic bloc’s trade with any other region in the world, amounting to US$340 Billion in 2012.
Read more of this story at How We Made It In Africa