OPINION
Africa Still Rising
By Donald P . Kaberuka and Acha Leke
African firms have not yet proved capable of meeting existing domestic demand .
JOHANNESBURG – Is the honeymoon over for African economies ? Less than a decade ago , it seemed that the continent ’ s economic dreams were beginning to come true , with many countries experiencing impressive GDP growth and development . Now , as the harsh reality of the continent ’ s vulnerability to challenging external conditions has set in , sustaining that growth has proved difficult .
Encumbered by slowing growth in China , a collapse in commodity prices , and adverse spillover from numerous security crises , Africa ’ s over- all annual GDP growth averaged just 3.3 % in 2010-2015 , barely keeping up with population growth – and down sharply from the 4.9 % recorded from 2000 to 2008 .
But a deeper look suggests that things may not be as bad as they seem , for two key reasons . First , though
20 Business Times Africa | 2016