Forum forecasts Nigeria to surpass China economic growth


Football fan painted herself in Nigerian flag colours

from OKORO CHINEDU in Lagos, Nigeria
LAGOS – THE unprecedented mobilisation of resources against the Ebola epidemic reflects the confidence that the international community has in 21st-century Africa, organisers of the Chief Executives Forum said on Friday as preparations for the event began.

The forum is scheduled for Ivory Coast in March next year when Nigerian business leaders are scheduled to attend.

According to organisers, Nigeria, said to be the biggest economy in Africa, is one of the several countries alongside Ethiopia, Mozambique, DR Congo, Côte d’Ivoire, as well as the West African region that are expected to out-perform China in the coming years.

“The pace of global economic recovery is slow and geopolitical and healthcare pressures are building. However, according to a recent survey by American think tank, the Pew Research Center, the economic outlook in Africa is brighter than anywhere else in the world.

“In fact, while the IMF revised its overall 2014 growth forecast downward in July, the outlook for Africa is still very positive,” read a statement.

“A number of recent developments confirm the general mood of optimism on the ground, including the decision taken by Qatar National Bank to raise its stake in Ecobank, the investments made by the European Bank for Reconstruction and Development (EBRD) in Morocco’s hotel industry, and the triple-A rating assigned by Moody’s to the bonds issued by the African Development Bank.

“This year, Africa is second in the top ten most attractive investment destinations, just behind North America.  In 2011, it ranked eighth.”

A range of topics, including competitiveness, industrialisation, trade and intra-African capital flows will be discussed in depth at the third edition of the Africa CEO Forum, the foremost international meeting of top African CEOs.

The purpose of the forum is to define concrete solutions to promote the development and emergence of strong African institutions that generate jobs and are capable of successfully competing in the international arena.

– CAJ News

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Posted by on Oct 10 2014. Filed under Africa & World, Finance, Finance & Banking, Investing, News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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