Breaking Ranks

Africa's Economic Boom

Alex Eichler 126 Views Feb 17, 2010
To all appearances, 2010 hasn't been a year of breakout social progress for Africa. Harsh anti-homosexual laws in Uganda, widespread brutality in Congo, political instability in Nigeria and Zimbabwe, food shortages across the continent--none of that news suggests a region undergoing rapid modernization or transformative economic growth. Yet Newsweek's Jerry Guo argues that on many important metrics--such as GDP expansion and gross national income--several African nations have joined the ranks of China and India as burgeoning economic powers to be reckoned with.

Guo notes that while "pervasive corruption" remains a problem in many places, Africa enjoys an "expansive base of newly minted consumers" and "the world's highest rate of urbanization." He relates tales of Nigeria's nouveau riche, and runs down a list of factors contributing to growth:
Spurred by eager investors, governments have steadily deregulated industries and developed infrastructure. As a result, countries such as Kenya and Botswana now boast privately owned world-class hospitals, charter schools, and toll roads that are actually safe to drive on. A study by a World Bank program, the Africa Infrastructure Country Diagnostic, found that improvements in Africa's telecom infrastructure have contributed as much as 1 percent to per capita GDP growth, a bigger role than changes in monetary or fiscal policies. Shares of stocks in recently privatized local airlines, freight companies, and telecoms have skyrocketed.
This optimism stands in contrast--if not in contradiction--to the accounts of human-rights violations from Nicholas Kristof and other international commentators.

Want to add to this story? Let us know in comments or send an email to the author at aeichler at theatlantic dot com. You can share ideas for stories on the Open Wire.

Sources

Topics:
Related Articles   More by Alex Eichler

Zimbabwe Bans Pop Group Over a Chicken

UN Report on Rwanda Genocide Shakes Africa

What Are U.S. Troops Doing in Central Africa?

 

Tyler Cowen Is Funny, Scarily Well-Read, Possibly Autistic

The Most Complete Map of the Universe

Elsewhere on the Web

User Comments

Please type your comment and click Post. If you’re not already logged in you will be prompted to log in or register

  • The Atlantic Wire on Twitter
  • The Atlantic Wire RSS Feed
  • The Atlantic Wire iPhone App