Business
South Africa VP: African economic growth not understood
Net growth in Sub-Saharan Africa. Souce/World Development Indicators 2011
Africa still receives less than 5 percent of foreign investment inflows and it seems that the African growth story has not yet been fully understood, says Deputy President Kgalema Motlanthe.
“In summary, the story being told is that Africa is becoming increasingly attractive to international investors. Perceptions are becoming more distinctly positive over the longer-term horizon,” he said.
Motlanthe said business leaders were planning new developments and expanding existing ones, demonstrating why Africa’s share of new global foreign direct investment (FDI) projects has steadily improved over the past decade.
“It is now commonplace that Africa’s economic performance over the past decade has outstripped performance in any previous period. Current forecasts are that Africa’s economy will grow at about 5.5 percent as a continent, this year,” he said.
