Africa now the world’s second fastest economy

DAVOS-KLOSTERS, Switzerland – Africa is already the world’s second fastest growing economy after expanding 5% a year in the past two years, well above the global average, and Africa’s GDP is on track to grow by 5.3% this year, a televised debate with the presidents of Nigeria and South Africa and business leaders reported today at the 43rd World Economic Forum Annual Meeting in Davos, Switzerland.

“If certain bottlenecks were taken out, I can easily see that doubling,” said Graham Mackay, Chairman, SABMiller, United Kingdom. The global brewer was established in South Africa more than a century ago and has extensive investments across the continent. Mackay singled out infrastructure development as probably the key driver to Africa’s continued economic progress.

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