Economic Growth In Africa Essay

Few could have predicted the shifts seen in African markets in recent years, with countries making intrepid efforts to improve investment climates across the continent which have facilitated in steering Africa’s economic growth. The continent continues to experience a major reduction in poverty and a growing middle class predicted to be the fastest urbanizing region in years to come, this along with the advancement of technologies across various major sectors will have a positive effect on the continent’s aerospace industry.

The mineral-rich continent, is well positioned to facilitate increased trade flows, fostering a generation of vivacious entrepreneurs to support vibrant manufacturing clusters, and manufacturing, unlike natural resources

Despite global uncertainty and economic outlook remaining melancholy, resilient economic growth continues in Africa, but not without challenges.

Africa needs foreign investment to establish stable markets, create jobs and opportunities as well as to enhance economic growth and innovation, and although there has been a strident increase of investors interested in Africa over the past few years, much of that investment has been stalled by a number of factors, including; a lack of infrastructure, high operational costs, a lack of competent projects available for investment, public cynicism of the private sector, uncertainty, distrust of the private sector, major skills gaps for the workforce, and, of course, little progress has been made in regards to obstinate corruption in a number of countries where bribery affects the appropriate operations of local governments, problematic ecological practices impacts the quality of the water and air within the region and poor labour conditions where mistreatment of employees determines wages among other factors, are rampant, potentially leading to social and environmental drawbacks in terms of dilapidated economic