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African economies are outpacing UK and other European economies!

Discussion in 'International Forum' started by Mdondoaji, Mar 22, 2012.

  1. M

    Mdondoaji JF-Expert Member

    #1
    Mar 22, 2012
    Joined: Mar 17, 2009
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    Why African economies are outpacing the UK's

    [​IMG]
    Into Africa ... Chinese industrialist Jin Yi sealing deal with South African politician Noxolo Kiviet

    By STEVE HAWKES, Business Editor | Published: 20th March 2012


    IT'S THE last place in the world you might expect to find green shoots, so whisper it quietly - Ethiopia is starting to BOOM.

    Its economy, though still small, is now growing nearly TEN times faster than our own in the UK.

    And it's not just Ethiopia - seared into the West's minds by the 1985 famine which sparked Live Aid - that is being transformed.

    Ghana's output, or GDP, is expected to rise by nine per cent in 2012 - almost rivalling that of China.

    Zambia, whose footballers won the Africa Cup of Nations last month, is storming the economic league too.

    In all, seven of the world's top ten fastest growing economies between now and 2015 will come from Africa.

    The growth rates across the continent are distorted by how poor the countries have been until now.

    But big business has taken note of the opportunities. Just ask Diageo, the British company behind Guinness.

    In January the company bought Meta Abo, Ethiopia's biggest brewer, for nearly £150million.

    Tim Ohlenburg, senior economist at the Centre for Economics and Business Research, says: "Africa has a lot of natural resources such as oil and copper at a time of high commodity prices.

    "But a middle class is also beginning to emerge, with a purchasing power, so they are becoming big and attractive markets."

    Nigeria has been a big player for years thanks to vast oil reserves. But previously poor countries are catching up.

    Economic output across sub-Saharan Africa was just $322billion in 2000. It is now FOUR TIMES higher at $1.22trillion - half the level in the UK.

    [​IMG]
    Expansion ... Barclays have millions of customers in Africa

    China has been leading the way, investing billions of yuan in a bid to bag most of the rich resources Africa has to offer.

    Four years ago China struck an eye-watering deal to give the Democratic Republic of Congo $6billion.

    This included China building 2,400 miles of road, 2,000 miles of railway, 32 hospitals and 145 health centres.

    In return the Chinese got to take away ten million tons of copper and 400,000 tons of cobalt.

    China is also the biggest market for Ethiopia, where coffee makes up almost half of its exports.

    And the superpower is also busy in the more established South Africa. Just last month, Jin Yi, vice-president of Chinese car firm FAW, met with Eastern Cape Premier Noxolo Kiviet to celebrate a deal to build a local factory.

    And western multinationals are catching up.

    Shell is now one of those beating a door to east Africa and Mozambique, where one of the world's biggest gas fields has been found.

    Mobile phone giants such as Vodafone also see huge potential. The number of mobile phone subscribers in Africa is going up by 20 per cent every year.
    Banks are also piling in. Barclays made £910million in Africa last year and has 14.5million customers there.

    Richard Dowden, director of the Royal African Society, said: "Just because bad stuff is happening in places like Zimbabwe, it doesn't mean there aren't good things happening in places like Ghana."


    Forecast of annual GDP growth 2011-15



    1. China 9.5%
    2. India 8.2%
    3. Ethiopia 8.1%
    4. Mozambique 7.7%
    5. Tanzania 7.2%
    6. Vietnam 7.2%
    7. DR Congo 7%
    8. Ghana 7%
    9. Zambia 6.9%
    10. Nigeria 6.8%


    Source: The Sun UK link hapo chini

    Why African economies are outpacing the UK’s | The Sun |Features

    Najua ndugu zangu wa ngambo ya pili mtasema sana ukweli Watanzania tunachanja mbuga tu!!!!! Enjoy
     
  2. G

    Gagnija JF-Expert Member

    #2
    Mar 22, 2012
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    A wild joke!
     
  3. Njowepo

    Njowepo JF-Expert Member

    #3
    Mar 22, 2012
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    Isije ikawa wanatupaka mafuta kwa mgongo wa Chupa!
    Ninapochoka huo ukuaji is not felt by a common Tanzania!
     
  4. Nairoberry

    Nairoberry JF-Expert Member

    #4
    Mar 22, 2012
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    that is great for Tanzania i love it we have huge potential
     
  5. Ndahani

    Ndahani JF-Expert Member

    #5
    Mar 22, 2012
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    Ni kweli kabisa na hapo panahitaji a serious thought. Nimesoma gazeti moja leo Zitto amesema vizuri kuhusu kupungua kwa ukiaji wa sector ya madini. Kwa muda mrefu hatuhimizi investment kubwa kufanywa na locals. Tumeamini zaidi kwamba wathungu na makampuni yao ndio watakaoweza kututoa kimasomaso. But that need to change kama mageuzi ya uchumi tunataka yawasaidie wananchi.People should own the big part of the economy and good governance should be upheld to the required standards to make the economic development sustainable.
     
  6. Somoche

    Somoche JF-Expert Member

    #6
    Mar 23, 2012
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    Utapeli mtupu
     
  7. Manumbu

    Manumbu JF-Expert Member

    #7
    Mar 23, 2012
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    sisi kama waswahili tunaona fahaaari kuonekana kwenye hizo top ten. on the ground lkn hali ni tofauti kabisa. umasikini kila kona, mipango hovyo isiyo endelevu...na tukiambiwa tutaipita UK na wazungu wengine tunaona ndo ufahaari!! hii mentality mfu mbaya kabisa!
     
  8. eliakeem

    eliakeem JF-Expert Member

    #8
    Mar 23, 2012
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    mimi ndo nakomaga na wachumi..... tarakimu na takwimu nzuuri lakini tofauti kabisa na hali halisi.... tunataka tuona hizo takwimu zikiwa sambamba na hali halisi..
     
  9. Njowepo

    Njowepo JF-Expert Member

    #9
    Mar 23, 2012
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    Tanzania is full of Political Economists
     
  10. Njowepo

    Njowepo JF-Expert Member

    #10
    Mar 23, 2012
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    WB Tanzania lead economist Jacques Morisset said the GDP doubled in 10 years, but it has failed to produce any significant decline in poverty levels.
     
  11. K

    KALABASH JF-Expert Member

    #11
    Mar 25, 2012
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    Mkuu. I like your last paragraph. There is a country not appearing in the above list. Could that be the reason why the likes of MOYO, LIVEFIRE, NAIROBERRY et al have opted to keep mum?
     
  12. livefire

    livefire JF-Expert Member

    #12
    Mar 25, 2012
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    you had to invite me n my club?lol. This is your party buddy. Mek merry.
     
  13. K

    KALABASH JF-Expert Member

    #13
    Mar 25, 2012
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    Be serious and comment on the abscence in the list above of a THE country you spend so much time writting on in this forum. No hanky panky here.
     
  14. livefire

    livefire JF-Expert Member

    #14
    Mar 25, 2012
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    hehe, someones is trying to coerce me to making a legal and binding statement, nice try. awkey! the list is fab and you doing good buh pull your socks some more. Happy?:).
     
  15. MAMMAMIA

    MAMMAMIA JF-Expert Member

    #15
    Mar 25, 2012
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    Very easy...kwa sababu ukuaji unaingia matumboni mwa wachache. Kwa hivyo usishangae kitakwimu ikaonekana uchumi unakua. Chukua mfano wa takwimu - Wewe na jirani zako sita, mmoja wenu anakula kuku 7 kwa wiki, kitwakimu itakuwa kila mmoja wenu anakula kuku mmoja kwa wiki.

    Au siifa hizi wanazotupakani sawa na ni ile hekaya ya Sungura aliyekuwa anamsifia Kunguru aliyekuwa na kipande cha jibini mdomoni kuwa anaimba vizuri. Kunguru kwa kuona amesifiwa akaanza kuimba kipande cha jibini kikamdondoka.

    Ikiwa kweli uchumi wa Tanzania unakua na kwa nini bado tunamnyang'anya Matonya kazi ya kutembeza bakuli?
     
  16. Kabaridi

    Kabaridi JF-Expert Member

    #16
    Mar 25, 2012
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    The sun like news of the world is a tabloid newspaper in the UK and the countries especially Mozambique in that list is suspect. they have been growing at that rate since 2003
     
  17. K

    KALABASH JF-Expert Member

    #17
    Mar 25, 2012
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    The sun is not exactly in the same league as the News of the World. The sun has a more serious political outlook. Be that as it may, you would not have said so about the SUN had the list above included THE country you so much like to extol here in the International Forum. Pity!
     
  18. K

    KALABASH JF-Expert Member

    #18
    Mar 25, 2012
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    You are very evasive and difficult to put in a corner. Very witty as they say!
     
  19. R

    Realtor Senior Member

    #19
    Mar 25, 2012
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    Uchumi unakua kwa manufaa yao sio....huu uchumi ni wa kukodishwa kwao...wao ndio wakulima, wawekezajaji, wavunaji na kila pesa inarudi kwao!! Sujui kwa nini watanzania ni maskini!!!
     
  20. M

    Mdondoaji JF-Expert Member

    #20
    Mar 25, 2012
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    (Adds new quotes, details, background)
    DAR ES SALAAM, March 13 (Reuters) - Tanzania's economy is projected to expand by 6.5 to 7 percent in 2012-13, up from about 6.3 percent in 2011, with its deficit cut to 5.5 percent of gross domestic product, the International Monetary Fund said on Tuesday.
    The Washington-based IMF also said real Gross Domestic Product (GDP) grew 6.3 percent in the first nine months of 2011 and was expected to have maintained that pace in the final quarter of the year.
    The IMF estimate echoes the World Bank's forecast in February that east Africa's second biggest economy could rebound to 7 percent growth in 2012-13, buoyed by the recovery of the global economy.
    "For 2012-13, growth is projected in the 6.5-7 percent range ... It was agreed that the authorities will pursue further fiscal consolidation to achieve an overall budget deficit of 5.5 percent of GDP in 2012-13," the IMF said in a statement.
    The IMF gave no explanation for the greater growth forecast.
    Economic analysts say increasing investor interest in Tanzania's telecommunications, energy and financial services sectors should help drive economic growth if the world economy recovers.
    The IMF said in February that savings in Tanzania's non-priority programmes were expected to reduce the budget deficit to around 6.5 percent of GDP by the end of June this year, and help tackle inflation.
    "Monetary policy will need to be tight over the near term to keep underlying inflation low. Based on a projected improvement in the food situation in the region, headline inflation is projected to return to single digits by end-2012," the IMF said. Continued...

    Source: Reuters.

    Mtaweseka sana but sie tunakata mbuga tu haya Reuters hao nao mseme ni tabloid .

     
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