The often quoted ‘facts’ around the ‘Africa Rising’ story, such as the continent being home to 7 of the world’s 10 fastest growing economies in the world and a rising middle class with greater political and macro stability, often masks a darker reality. A reality that casts a shadow over populations still to see the real-life benefits that their countries growth figures would imply. This poses a fundamental challenge as to whether this growth is real and sustainable. One of the objectives at Invest In Africa is to promote Africa as being ‘open for business’, while recognizing the importance of doing this in a balanced way, with transparency and sustainability being key requirements to successful business.
The challenge of whether Africa’s growth is real and sustainable is typified by countries like Sierra Leone, Ivory Coast and Chad. All three posted growth rates over 9 percent last year but all fall into the bottom 20 countries in the Human Development Index (HDI), as ranked by the UN on education, life expectancy, health, per capita income, inequality and other such factors.