MARCH 29, 2013
We keep hearing that "six of the world's ten fastest growing economies" over the last decade are in sub-Saharan Africa, but rarely that three of those six -- Angola, Chad, and Nigeria -- depend on oil, and thus could fall to earth as prices decline. But the Economist has convinced me that growth is broader and deeper than I thought. Its recent special report, "A Hopeful Continent," notes that across Africa income per capita has grown 30 percent over the last decade, after having shrunk 10 percent over the previous 20 years. Projected growth over the next decade is 6 percent annually.