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'Hopeless Continent' Becomes 'Continent of Hope'

Despite high-profile setbacks, Africa has in the past decade changed from being “the hopeless continent” to “the continent of hope”, former United Nations chief Kofi Annan says in a report issued Thursday. “Countries and companies are increasingly shifting their attention from Africa's problems to its vast potential and abundant opportunities,” he says.

This graph published in the Africa Progress Report 2011 shows how steady African growth was interrupted by the global financial crisis in 2009 but is expected to regain its momentum through 2011.

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An analysis by the McKinsey Global Institute, published by the Africa Progress Panel, shows how countries such as Libya, Angola, Algeria and Nigeria export unprocessed natural resources, while those such as Egypt, Namibia, Morocco, Tunisia in South Africa are more economically diversified, producing more processed goods.

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