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21 century Africa

It’s a different world now!

 International trade should be based on the need to ensure stable, equitable, and
remunerative prices for raw materials, generalised non-reciprocal and non-
discriminatory tariff preferences, as well as transfer of technology to developing
countries; and should provide economic and technical assistance without any strings
attached.
 Creating a more cooperative negotiating climate between developed and developing
countries and streamlining the global bargaining process by reducing the total
number of participants involved. 90
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Whilst none of these movements achieved their desired aims, they can be seen as
manifesting real and continuing economic frustrations as experienced by supposedly

independent Africa.
The world order is changing and, according to HSBC , by 2050 19 of the 30 largest
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economies will be what we know as "emerging economies” . The combined GDP of

emerging economies will collectively be bigger than that of the developed economies.
Individual African countries are undergoing their own specific economic transformation

and can look forward to a much greater degree of economic independence.

Angola
The economy is seemingly so awash with money from oil exploration and production
that its capital is now thought to be one of the most expensive places in the world to
live

Ethiopia (8.5% GDP growth rate: WORLD FINANCE: March 2019) 92
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Ethiopia has been working through its Growth and Transformation Plan A number
of state-owned companies were sold to overseas investors in China. FDI growth
2016/17 was hit 27.6 percent. The government has invested heavily in infrastructure
projects. A dramatic increase in universities is leading to a much more skilled labour
force. Skilled labour costs are cheap. The soon to be on-line Grand Ethiopian
Renaissance Dam will provide a continuous stream of new export earnings.

Côte d'Ivoire (7.4% GDP growth rate: WORLD FINANCE: March 2019)

Senegal (7% GDP growth rate: WORLD FINANCE: March 2019)
Senegal is one of Africa's most stable countries, experiencing three peaceful political
transitions since it gained independence from France in 1960.

Ghana (6.3% GDP growth rate: WORLD FINANCE: March 2019)
The country is Africa's second-largest producer of gold and has an abundant supply of
diamonds and oil.
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As the 21st century progresses, even more African countries will enjoy their own greater

economic independence