Its area is larger than that of China, the United States and India combined or five times that of the 28 countries of the European Union. Its population, at over million, is also getting on for twice as much as that of the European Union. The 48 countries of the region are also extremely varied, both in size and economic history, with many small countries and giants such as Nigeria.
Ancient Egyptian units of measurement also served as units of currency. Africa's economy was diverse, driven by extensive trade routes that developed between cities and kingdoms.
Some trade routes were overland, some involved navigating rivers, still others developed around port cities.
The Sultanate of Mogadishu 's medieval currency. Some parts of Africa had close trade relationships with Arab kingdoms, and by the time of the Ottoman EmpireAfricans had begun converting to Islam in large numbers. This development, along with the economic potential in finding a trade route to the Indian Oceanbrought the Portuguese to sub-Saharan Africa as an imperial force.
Colonial interests created new industries to feed European appetites for goods such as palm oil, rubber, cotton, precious metals, spices, cash crops other goods, and integrated especially the coastal areas with the Atlantic economy.
An economic rebound among some countries has been evident in recent years, however. The dawn of the African economic boom which is in place since the s has been compared to the Chinese economic boom that had emerged in Asia since late 's. Equatorial Guinea possessed Africa's highest GDP per capita albeit allegations of human rights violations.
Oil-rich countries such as AlgeriaLibya and Gabonand mineral-rich Botswana emerged among the top economies since the 21st century, while Zimbabwe and the Democratic Republic of Congopotentially among the world's richest nations, have sunk into the list of the world's poorest nations due to pervasive political corruption, warfare and braindrain of workforce.
Botswana remains the site of Africa's longest and one of the world's longest periods of economic boom — Data suggest parts of the continent are now experiencing fast growth, thanks to their resources and increasing political stability and 'has steadily increased levels of peacefulness since '.
The World Bank reports the economy of Sub-Saharan African countries grew at rates that match or surpass global rates. The top nations in include Mauritania with growth at Nonetheless, growth has been dismal, negative or sluggish in many parts of Africa including Zimbabwethe Democratic Republic of the Congothe Republic of the Congo and Burundi.
Many international agencies are increasingly interested in investing in emerging African economies. As ofthe initiative has given partial debt relief to 30 African countries. China and India are increasingly important trade partners; Africa's economy—with expanding trade, English language skills official in many Sub-Saharan countriesimproving literacy and education, availability of splendid resources and cheaper labour force—is expected to continue to perform better into the future.
A consumer class is also emerging in Africa and is expected to keep booming.
This number could reach a projected million by A new program named Trade Africa, designed to boost trade within the continent as well as between Africa and the U.This part of the benjaminpohle.com web site looks into the effectiveness of the IMF-imposed Structural Adjustment Policies and how this has exacerbated poverty.
Debt is an efficient tool. It ensures access to other peoples’ raw materials and infrastructure on the cheapest possible terms. Dozens of countries must compete for shrinking export markets and can export only a limited range of products because of Northern protectionism and their lack of .
African Union (AU) Africa Day New Partnership for Africa’s Development (NEPAD) South Africa and the Southern African Development Community (SADC). Engaging the Democratic Transition. By Zwelinzima Vavi, General Secretary, COSATU.
COSATU was formed in in the midst of the state of emergency, which saw a wave of resistance by the organs of people's power that took mass work to heights never seen in the history of our struggle. Port Manteaux churns out silly new words when you feed it an idea or two.
Enter a word (or two) above and you'll get back a bunch of portmanteaux created by jamming together words that are conceptually related to your inputs.. For example, enter "giraffe" and you'll get .
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