Prospects positive for Africa growth in 2019

JOHANNESBURG: The year 2019 has positive prospects for Africa in terms of increase in economic growth, governance and improved business environment, said Foresight Africa 2019 report launched in Johannesburg on Monday.

The report was launched by Brahima Coulibaly, senior fellow and director of Africa Growth Initiative in Brookings Institution. The report contains different chapters written by different influential people in government, academia and civil society.

South Africa's contributions to Africa's march forward will be enabled by our own efforts to end a decade of economic stagnation, said South African President Cyril Ramaphosa in a chapter he wrote.

Ramaphosa also stated that the African Continental Free Trade Area (ACFTA) will enable the continent to realize its dreams of promoting trade, industrial growth and self sufficiency.

During the launch Coulibaly said nearly half of the world's fastest growing economies this year would be in Africa. He stated that dynamism in Africa is creating investment opportunities and interest from different external partners.

He stated that there is still poverty, inequalities and less inclusive growth.

Coulialy advised African countries to mobilize financial resources for economic development and controlling indebtedness.

Mohamed Beavogui, African General Manager of the African Risk Capacity who also wrote a chapter in the report, told Xinhua that positive things are expected in Africa in 2019 with diminishing risks.

He pointed out that Africa is now working to address challenges with political will shown by many leaders. He said Africa should learn from China but do it in their own way.

"Like China, Africa should improve on human resources development, reduce poverty especially those in rural areas, invest infrastructure and use new technology."