Key Facts

1.216 billion (2016)
Area: 30.37 million km²
GDP (PPP) 2014 estimate
- Total US$3.757 trillion
- Per capita $3,568
GDP (nominal) 2014 estimate
- Total $2.390 trillion
- Per capita $2,173
Currency 42 currencies

Africa is the world's second-largest and second-most-populous continent. At about 30.3 million km² including adjacent islands, it covers 6% of Earth's total surface area and 20.4% of its total land area

  • Japan in Africa Japan looks to grow its presence across Africa


    Between 2016 and 2018, Japan has pledged to invest $30 billion in Africa’s development, as it bids to join the likes of China and the US in the battle for influence on the continent.

    Competition in Africa is heating up, with Japan aiming to increase its presence and influence on the continent as it looks to make up ground lost to China since the turn of the century.

    Japan launched the Tokyo International Conference on African Improvment(TICAD) back in 1993, and since again has invested around $50 billion in Africa, a meagre sum at the same time as compared to China and the US.

  • Egypt Year in Review 2016


    The acceleration of a long-awaited reform programme and continued economic recovery, particularly in the retail and energy sectors, made 2016 a transitional year for Egypt.

    Funding approval

    On the back of the government making evolution on economic reforms, inclunding allowing the Egyptian pound to trade freely, in mid-November the IMF approved a $12bn bailout package.

  • South Africa Year in Review 2016


    South Africa’s economy faced an extra challenging year in 2016, as soft commodity prices, slow domestic request and an uncertain political outlook combined to limit increase, with prospects for the coming year expected to be only somewhat additional positive.

    Possible downgrade

    Allegations of mismanagement by President Jacob Zuma and uncertainty over economic policy continued to impact increase through 2016, causing two leading ratings agencies to put the government on notice of a possible downgrade in the new year.

  • Nigeria Year in Review 2016


    Lower hydrocarbons revenues, tight capital controls and currency volatility combined to make 2016 a challenging year for Nigeria.

    By December the country was in recession, facing its initial full-year contraction for almost three decades, with the IMF expecting Nigeria’s economy to shrink by 1.7%.

    Inflation, meanwhile, had climbed to an 11-year high by October. However, the outlook for 2017 appears brighter for what is still Africa’s major economy by GDP.

  • Ghana Year in Review 2016


    Soft commodity prices, disruptions to oil and gas production, and a depreciating currency saw Ghana’s economy slow in 2016, though the country’s new government is expected to benefit from a strong rebound over the coming year.

    Ghana closed out 2016 with a new chief of national. Nana Akufo-Addo, leader of the opposition New Patriotic Party (NPP), defeated John Dramani Mahama from the National Democratic Congress in the December presidential election.

    The NPP, which has outlined an intensely pro-business schedule, as well won a clear majority in the parliamentary election, with a net gain of 49 seats in the legislature, taking its total to 170 in the 275-seat body.

  • Gabon Year in Review 2016


    An ambitious project pipeline aimed at galvanising increase across several sectors of Gabon’s economy helped the country weather sustained low oil prices in 2016, while wide-ranging reforms are expected to support further diversification efforts in the new year.

    Though increase is expected to have dipped slightly in 2016, Gabon kept up its planned pace of development, investing in a raft of initiatives that are steering the country away from its reliance on oil.

  • A mouth-watering array of African foods


    African cuisine is as diverse as the hundreds of different cultures and groups that inhabit the continent. This diversity is reflected in the many local culinary traditions in terms of choice of ingredients, style of preparation and cooking techniques. Many of the dishes are also affected by the subsistence nature of living in many parts of the continent – you find farmers, herdsmen and fishermen everywhere. The crops they grow or the animals they keep thus affect the popular dishes in their regions.

  • Donald Trump and Sub-Saharan Africa


    The election upset of Donald Trump winning the US presidential vote will have implications for Sub-Saharan Africa. In the near term, the impact is likely to be relatively modest, inclunding volatility in currency and financial markets. In the medium term, the consequences of Mr Trump's isolationist tendencies will probably be additional keenly felt via cuts to aid flows and less focus on supporting democracy and human rights. Backing for anti-terrorism initiatives will probably be maintained given the threat terrorism potentially poses to US national security and interests, but in general a cooling of relations appears likely.

  • Economic and Financial Strategies against Africa


    Other than the divisive military-security perspective and ‘dark scenario’ forecasting that’s been hitherto applied for understanding African geopolitics, there’s also the more unifying and positive approach of analyzing the continent’s financial, economic, and integrative institutions.

  • The American Dream with Donald Trump seen by a Seychelles President


    On Wednesday 9th November, 2016, it was confirmed that following a melo-dramatic campaign that Donald Trump had been elected the 45th President of the United States of America. Although Hillary Clinton had received additional popular votes at the national level than Mr Trump, the American system delivered additional colligates support to Donald Trump and in fact the Republican Party succeeded as well to win a majority of seats in both Congress and the Senate.

  • Six reasons to invest in Africa


    The conversation about Africa is shifting from one of “deficits” and “gaps” to one about opportunities, prospects, ventures and creativity. That’s not news to companies that have paid close attention to the continent and invested there. The fast growing youth populations, the urbanization expected to drive over 50% of Africans to cities by 2050, and Africa’s formalising economy are all well known. These trends and other developments have driven a half century or additional of increase in Africa, and will continue to do so.

  • Top 10 most competitive Sub-Saharan African economies


     A ten-year decline in the openness of economies at all stages of development poses a risk to countries’ ability to grow and innovate, according to The Global Competitiveness Report 2016-2017, which is published today.

  • 'Let's get more travel stories on Africa by Africans'


    This month actor Louise Linton caused a social media storm at the same time as an extract of her African gap year memoir was published by the Telegraph and was widely panned online for being a tick inventory of cliches and stereotypes in the way the west has always liked to portray the continent. On Twitter, #LintonLies, set up by Zambian writer Lydia Ngoma, was trending as people started to pour scorn on Linton’s version of certain events and her take on life there. Think: “close encounters with lions”, “brutal tales of rape and murder,” and 12-inch long spiders, which would be terrifying, though they only exist in Laos.

  • Classroom at the rural primary school Ecole Keur Madaro near Thies, Senegal.


    Over the last 15 years, West African governments and the international community have been successful at expanding access to primary schooling and from presently on, a ground-breaking regional learning assessment has revealed that the quality of education has remained elusive. The majority of children surveyed were not acquiring the basic literacy and math skills that are crucial for building human capital in the region.

  • ‘We are working to bring financial services closer to the people’


    Next entering an IMF-supported program in 2008, the Seychelles has become a beacon of macroeconomic stability thanks to prudent reforms led by the Ministry of Finance and the Central Bank of Seychelles (CBS). As the country begins laying the groundwork for its radical national development strategy based on the blue economy concept, CBS Governor Caroline Abel expands on the key role her institution is playing in ensuring SMEs are able to access the finance required to take chance of the opportunities opening up in the blue economy, whilst discussing whether Seychelles can be viewed as a role model in terms of female empowerment in the banking sector.

  • Africa’s 20 most attractive countries for investors – Ernst & Young


    Despite its economy slowing down, South Africa remains Africa’s most attractive country for investors, according to the 2016 Ernst & Young Africa Attractiveness Index.

    The statement evaluates evolution made in governance, diversification, infrastructures, business enablement, human development inclunding resilience to current macroeconomic challenges.

    Morocco is ranked second on the index, followed by Egypt, Kenya, Mauritius, Ghana Botswana, Tunisia and Rwanda. Cote d’Ivoire comes tenth.

    Africa’s top economy, Nigeria comes 15th, mainly because of its poor performances in terms of governance and human improvment(See full ranking below).

  • Côte d’Ivoire Year in Review 2015


    On the back of October’s presidential elections, Côte d’Ivoire has racked up an extra year of strong economic increase, while a raft of infrastructure and price-added agriculture projects looks set to help the country maintain its position as one of West Africa’s brightest stars in 2016.

    At an estimated 8.4%, Côte d’Ivoire’s GDP increase was one of the highest in the region in 2015, with the same increase rate estimate for the coming year, according to the IMF.

  • Nigeria Year in Review 2015


    As with a lot of hydrocarbons producers elsewhere in the world, Nigeria endured a challenging 2015 as falling oil prices impacted the country’s exports and exchange earnings.

    This was compounded by a range of broader macroeconomic pressures, inclunding uncertainty in the lead up to the 2015 presidential elections, a strengthening US dollar and insecurity in the north of the country. According to the IMF, these headwinds slowed Nigeria’s GDP increase to an estimated 3.2% in 2015, the lowest rate since 1999.

  • Egypt Year in Review 2015


    The year 2015 brought welcome stabilisation and recovery to Egypt, next a difficult post-revolution period marked by continued upheaval and sluggish increase.

    The initial part of the year saw a range of encouraging developments, inclunding the completion of the strategically vital Suez Canal expansion, the commitment of additional than $35bn in planned foreign investments, closer economic ties with Gulf allies and promising activity in the fast-moving consumer goods (FMCG) sector.

  • Gabon Year in Review 2015


    A drive to reinforce diversification efforts limited the impact of low oil prices on Gabon’s economy in 2015, and while the government has had to adjust spending downwards, increase has still ticked along well above the developed-country average.

    According to the majority recent estimate from the IMF, the country is expected to post increase of 3.5% in 2015, down from 5.1% in 2014. GDP is set to reach CFA8.22trn (€12.5bn), with exports on course to rise by 6.78% year-on-year.

  • Morocco Year In Review 2015


    A strong agriculture harvest put Morocco on course to post healthy increase in 2015, while structural reforms, together with strategic diversification plans targeting key sectors and regions, are as well beginning to yield results.

    Ratings agency Fitch described 2015 as a year marked by exceptionally strong agricultural output, with Morocco set to post GDP increase of 4.6%, up from 2.7% in 2014 at the same time as a poor harvest and low external request took their toll on the economy.

  • Kenya Year in Review 2015


    The Kenyan economy performed comparatively strongly in 2015, even in the face of world economic headwinds, such as slow increase in Europe, and domestic hurdles, inclunding weaker tourism receipts and a depreciating currency.

    According to the World Bank, GDP increase is expected to reach 5.4% for this completed year, aided in large part by sustained public sector capital spending.

  • Georges Philippe Ezaley, Mayor of Grand-Bassam, on the citys significance and potential


    Which sectors offer the majority potential for economic increase in Grand-Bassam?

    GEORGES PHILIPPE EZALEY: As the major tourist destination in Côte d’ Ivoire for both the local and international community, Grand-Bassam offers an array of tourism attractions.

  • Lydia Lariba Bawa, Commissioner, National Insurance Commission (NIC), on strengthening and expanding the market


    To what extent is consolidation needed in the country’s insurance sector?

  • Hervé Boyer, Director General, Stanbic Bank Côte d’Ivoire, on the potential for improved banking penetration


    What are Côte d’Ivoire’s comparative advantages as a banking market?

    HERVÉ BOYER: Although there are certainly challenges that need to be addressed – particularly in terms of competition and concentration – Côte d’Ivoire offers one of the majority sophisticated financial sectors in the region and enjoys a number of benefits that some of the larger economies in West Africa do not.

  • Momodu L. Kargbo, Minister of Finance and Economic Development


    Eager to attract foreign investors and ensure their projects are a success, Sierra Leone has been strengthening macroeconomic situation, investment environment and foreign relations, particularly with China and the UK, to open up the wide scope of opportunities its holds beyond its mining sector to partners overseas. Minister of Finance and Economic Development Momodu L. Kargbo takes a look at the best areas for investment, the 2017 Budget’s target areas for accelerated growth, and the country’s ability to honor its credit obligations. 

  • Grand Inga Dam Project ‘Coherence & efficiency’ define new energy approach


    Efforts in the DRC are redoubling to make the country’s long-delayed vision of building the world’s major hydroelectric dam on the Congo River a reality. Bruno Kapandji Kalala, Project Director for the Agency for Grand Inga Development and Promotion Agency (Agence pour le Developpement et la Promotion du Projet Grand Inga, ADPI) explains what evolution is being made on the project and how the government is encouraging the private sector to take part in a project that could be a major supplier of electricity across the continent.

  • Roko Construction Ltd Roko builds up Rwanda’s skills & skylines


    Regionally renowned for quality and timely construction and its local training and staff development programs, Roko Construction is open to further expansion and partnerships. Director Derek Claassen assesses Rwanda’s ongoing infrastructure building efforts, some of the bottlenecks to better regional integration, the advantages of Roko having its own materials manufacturing plants, its extensive in-home skill sets, and its signature building projects making their mark on Rwanda’s infrastructure and human resource pool.

  • Robin C. Bairstow, Managing Director of I&M Bank


    I&M Bank’s footprint in the East African region currently covers Kenya, Tanzania, and Rwanda, with a presence in Uganda as well on the horizon. Its customers are drawn to its technology, capacity building, and knowledge sharing across the region. Managing Director Robin C. Bairstow discusses the bank’s upcoming IPO, its focus on building up local expertise, and its wider view of how to provide support for SMEs.

  • National Bank of Equatorial Guinea Progress reshaping Equatorial Guinea


    Senator and Chairman of the National Bank of Equatorial Guinea Martin Crisantos Ebe Mba looks at the political, economic, and social changes taking shape in the country in recent years making it “a valued country, admired for its evolution and development at all levels” and its positioning as a financial platform for Central Africa and beyond.

  • Konde Bugingo, Deputy CEO of Banque Populaire du Rwanda (BPR)


    Providing far-reaching access to tailor-made banking products both digitally and in even the remotest corners of Rwanda has solidified BPR’s reputation as “the bank of the people”. Deputy CEO Konde Bugingo provides an overview of the banking landscape in Rwanda, the huge evolution being made in the country with regard to social and infrastructural improvements, and the sense of positivity and pro-business attitudes that Rwandans possess about their country’s next.

  • Dr Elikem Tamaklo, Managing Director, Nyaho Medical Centre, on the health care needs of Ghana


    How have the rise of chronic and non-communicable diseases (NCDs) impacted Ghana?

  • Germany considers Nigeria as a priority partner country in Africa


    German Consul General in Lagos, Ingo Herbert is a distinguished diplomat with vast experience in different roles. He has a pragmatic world view which seeks win-win situations in trade and diplomacy. Herbert was confirmed as Consul General in September 2015. Before his nomination, he had served Deputy Chief of Mission at the German Embassy in Pretoria and Tanzania. Previous assignments include Deputy Chief of Division at German Foreign Service, Ministry for Cultural Affairs in Berlin and Press Officer at German Embassy in Tel Aviv. MEET THE BOSS recently had the opportunity to sit down with the Consul General for an interview.

  • Palm Hills Developments Egypt’s insatiable demand for real estate makes developers hot property


    The clamor for property in Egypt shows no signs of abating and the resilient sector is ripe for foreign investment , as the current rate of supply is barely covering a quarter of request. Tarek Abdel-Rahman, Co-CEO of one of the country’s leading property developers, Palm Hills Developments, discusses the company’s current projects, building a rock-solid reputation, and why foreign direct investment is set to rise.

  • Yehuala Gessesse, President of Abay Bank


    Targeting the diaspora, farming communities and SMEs, Abay Bank’s profits have been rising on average by 78% annually, and were up 122% last year alone. Yehuala Gessesse, President of Abay Bank, outlines its strategy to reach additional of the people and keep it on such an impressive increase trajectory, and why investors should take a look at Ethiopia.

  • Aisha Mohammed Mussa, Minister of Culture and Tourism


    Ethiopia’s Minister of Culture and Tourism, Aisha Mohammed Mussa, explains the details behind the additional impetus Ethiopia’s government is adding to its tourism sector development and promotion to reach and indeed surpass the ambitious increase targets it has set for 2020.

    Having such a vast completed and culture, what would you say makes Ethiopia different from other tourism destinations?

  • Gosaye Mengistie Abayneh, CEO of Ethiopian Electric Utility (EEU)


    Ethiopia sent out a loud and clear message to the world with its Climate-Resilient Green Economy Strategy it adopted to be a carbon neutral economy by 2025: next development is to be fueled by greener power. Gosaye Mengistie Abayneh, CEO of Ethiopian Electric Utility (EEU), explains the country’s vast potential for renewable energy, their vision to interconnect African energy supplies, and Ethiopia’s win-win opportunities for its investors.

Business / TradeMore >
Americas Africa RelationMore >