Sunday, October 19, 2008

The time has come for Africa

Author: Hart, Liz; Insurance Times and Investment News
Published: 03/06/2008
During the 2008 World Economic Forum in Davos, Switzerland, PricewaterhouseCoopers (PwC) released its 11th Annual Global CEO Survey, which revealed a split in the confidence levels of company leaders worldwide.

In the developed economies of the US, Japan and Western Europe, the CEOs are concerned that economic decline could result in recession, yet in the newly emerged economies, confidence remains strong.

Additionally, the Organisation for Economic Co-operation and Development (OECD) forecast GDP growth for Africa to hit 6,7%, fuelled by demand from China and India.

"Africa is the world's second largest continent and is richly endowed with human and material resources. Interestingly, Africa has more English-language speakers than the United Kingdom, more French-speaking people than France and more Portuguese-speaking people than Portugal.

We have boundless opportunities available on the continent," comments Stanley Subramoney Deputy CEO, PricewaterhouseCoopers Southern Africa and Director of the NEPAD Business Foundation.