TradeInvest Africa (Cape Town)
26 October 2009
Africa's economy is picking up but it's sustained growth will depend on the revival of demand in the West and increased investments, says the African Development Bank (AfDB).
Chief Economist Louis Kasekende said the bank is forecasting a growth rate of 2% for the continent, improving to 3.9% in 2010.
"To maintain growth on a higher trajectory, the challenge facing the continent is to increase the level of investment to at least over 30% of Gross Domestic Product, while also increasing the efficiency of that investment," said Kasekende in an interview with the AfDB Web team ahead of the African Economic Conference in November.
African Economic Conference (AEC), brings together researchers and policy-makers to share perspectives on economic and development challenges facing the continent.
The theme of the conference to be held in Ethiopia will be "Fostering development in an era of financial crisis". Participants will discuss the impact of the crisis so far and whether interventions put in place are working.
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