By Jaya Ramachandran | IDN-InDepth NewsReport
GENEVA (IDN) – There is good news from Africa. The continent is witnessing the second fastest economic growth, and according to knowledgeable sources it may grow even faster in 2013. What is more, currently Africa accounts for 14 sovereign wealth funds (SWFs) with a total amount of USD114 billion in 2009, representing 3% of global SWFs, and that share is expected to increase in future with the establishment of new SWFs.
By Mirjam van Reisen* | IDN-InDepth NewsViewpoint
BRUSSELS (IDN) – Arab Spring has arrived in the Horn of Africa. Young people have been campaigning for the last year, inspired by events in Tunisia and Egypt, phoning households in the country that has been in the grip of its leader Isaias Afewerki since independence from neighbouring Ethiopia in 1991.
By Bernadette Paolo*
IDN-InDepth NewsViewpoint
WASHINGTON DC (IDN) – The people of the Democratic Republic of Congo (DRC) have long been savaged. Perhaps that is why the international outcry over the M23 rebels overtaking Goma and wreaking humanitarian devastation has been muted. Everyone has grown used to hearing about the violence that has become endemic in the DRC.
By Jerome Mwanda | IDN-InDepth NewsReport
NAIROBI (IDN) – The United Nations has launched a $1.3 billion humanitarian appeal in Mogadishu to address the immediate needs of the Somali people over the next year and enhance resilience in the country, which has for decades been mired by conflict, drought, floods and food insecurity.
The appeal issued on December 4 is part of three-year strategy. It is expected to benefit 369 humanitarian projects targeting 3.8 million Somalis in need, according to the UN Office for the Coordination of Humanitarian Affairs (OCHA). The strategy will be implemented by 177 national and international non-governmental organizations and UN agencies operating in Somalia.
By Jerome Mwanda
IDN-InDepth NewsReport
NAIROBI (IDN) – Some three months after the death of Ethiopia’s strogman Meles Zenawi, uncertainty prevails over the country’s political stability and economic development under his successor Hailemariam Dessalegn, says a new study by the British Institute of Development Studes (IDS).
In particular, Ethiopia’s economic challenges are dominated by the need to find secure livelihoods for what is now the second largest population in Africa and by the acute vulnerability of its major economic sector – rainfed agriculture which is dominated by small plots that are leased by the government.
By Jerome Mwanda
IDN-InDepth NewsReport
NAIROBI (IDN) – Whether and how African countries could reduce their dependency on foreign aid – if not do without it altogether – was a major subject of debate at the African Economic Conference in Rwanda’s capital Kigali. It was the first time since the 2011 Fourth High Level Forum on Aid Effectiveness in Busan, South Korea, that the issue was discussed.
Convened by the Economic Commission for Africa, (ECA), the African Development Bank, (AfDB) and the United Nations Development Programme (UNDP), the four-day conference from October 30 to November 2, 2012 focussed on the theme ‘Inclusive and Sustainable Development in an Age of Economic Uncertainty’.
By Jerome Mwanda
IDN-InDepth NewsReport
NAIROBI (IDN) – Some 19 million people in West Africa’s Sahel region are living with the threat of hunger and malnutrition, though the potential to increase agricultural production in Africa is enormous. Poor people in the slums of Nairobi pay more for their maize, rice, and other staple food than wealthy people pay for the same products in local supermarkets.
Such asymmetries are surmountable – if only African leaders would agree to improve inter-regional trade so that food can move more freely between countries and from fertile areas to those where communities are suffering food shortages, says the World Bank in a new report.
By J C Suresh
IDN-InDepth NewsReport
TORNOTO (IDN) – A new report by the World Bank highlights the resilience of African economies despite global slowdown caused by the Euro-zone crisis and decline in growth in emerging economies, particularly China – an important market for the continent’s mineral exports.
In fact, new oil, gas and mineral wealth offer an opportunity for inclusive development. But strong growth rates could yet be vulnerable to deteriorating market conditions in the Euro-zone, the report warns.
So far, consistently high commodity prices and strong export growth in those countries which have made mineral discoveries in recent years, have powered economic activity and are expected to buttress Africa’s economic growth for the rest of 2012, according to the World Bank’s new Africa’s Pulse. African countries’ share in global reserves and annual production of some minerals is sizeable.
By Charles Mafa*
IDN-InDepth NewsReport
LUSAKA (IDN) – China’s voracious appetite for natural resources has driven a boom of investments and aid to African countries. In the Southern African country of Zambia, Chinese companies are building roads, hospitals, sports stadia as well as reviving copper mines abandoned in the country’s Copperbelt region.
By Sven Richter*
IDN-InDepth NewsAnalysis
African demographics are at the start of a long-term trend that will most likely trigger high gross domestic product (GDP) growth in the region for the next decade or two. A by-product of this is likely to be more democracy. Studies show that as GDP increases, the likelihood of democracies becoming autocracies fades and the likelihood of autocracies becoming democracies increases. This holds true for all nations, bar those with a very high GDP per capita where the wealth is derived from a single resource such as oil.
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