Economy
Gold: good for Mali and Papua New Guinea
The latest gold rush is on. And among its biggest beneficiaries are emerging market economies with big gold mining sectors. As the table below shows, the countries where the gold industry makes the largest contribution to GDP are not established mega-producers such as South Africa but smaller countries headed by Papua New Guinea and Mali.
The table...
Niger to start oil production in Q1 next year – PM
NIAMEY, June 16 (Reuters) Niger will produce its first barrel of oil in the first quarter of 2012 and will build a pipeline linking the Chad-Cameroon pipeline to enable it to export its surplus production, Niger’s prime minister said on Thursday.
The West African nation, already one of the world’s biggest suppliers of uranium, will start...
Africa’s progress belongs to Africa: Overseas Development Institute
‘Progress in African development happens best when it is led by African states and citizens’ is the message from a new global research project released by the Overseas Development Institute. The Mapping Progress report identifies the crucial role of effective leadership, smart policies, proper institutional foundations and international...
Sime Darby to Invest $3.1 Billion in Liberia: Reuters
Malaysia’s Sime Darby Bhd. (SIME) will spend about $3.1 billion on its Liberia oil palm project over the next 15 years and expects output to begin in 2015, Reuters said, citing the company’s board chairman, Musa Hitam.
Hitam was in Liberia for the launch of the 222,000 hectare (548,573 acres) project, the news agency said. The project employs about...
Research: Finding out why African banks lend so little
Small Business Owner, Lagos, Nigeria
International donors provide large amounts of financial capital to Africa in the form of aid and grants, but there are also large financial flows in the opposite direction. Many African banks invest large sums abroad and lend relatively little to local businesses. This column explains that this is because many banks...
Ghana’s Economy to Expand 13% After Start of Oil, IMF Says
March 1 (Bloomberg) — Ghana’s economy will grow by 13 percent this year, more than twice the rate of 2010, boosted by both oil and non-oil industries, according to the International Monetary Fund.
The expansion will be “evenly divided between growth of the non-oil economy and the start of oil production,” Peter Allum, the fund’s mission...
Growing African Middle Class is Potential Source of Political Stability
The middle class has been at the forefront of demands for political change in Tunisia and Egypt. Now, a growing middle class south of the Sahara presents challenges for governments there, as well as a potential source of political stability.
Political upheaval across North Africa is being driven, in part, by a growing middle class that wants more of...
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