IFN RSS feeds twitter
 
Subscriber Login
User ID:
Password:
Not a subscriber? Request for free trial
 
IFN Search

 
IFN Company Directory

 
Build your own
IFN Research Report
 
 
Latest Supplement
Supplements
 
 
Currency Converter
 
Books
 
Upcoming Training
 
Upcoming Conferences
 
Partners
 
Supplements  

AFRICA : AN UNCERTAIN FUTURE?

As the global economy experiences unprecedented shifts, Africa’s time to shine draws closer. Economic pundits are ready to place their bets on this emerging market despite decades of civil unrest, tribal clashes and political and economic turmoil overshadowing this vast and ancient continent’s true economic potential. Although still unable to free itself from the shackles of corruption and poverty, a self-perpetuating cycle, the success of the African economy currently rests on its ability to attract multinational corporations and foreign direct investments from Asia and Europe. Over the last ten years, trade between African countries and the rest of the world has grown significantly; charting a 170% increase in trade with the GCC, and 45% growth with China and India, currently the world’s fastest growing economies. Chinese investors have expressed considerable interest in Africa, and are already heavily invested in manufacturing and infrastructure projects in countries such as Sudan and Ghana. In places such as Ethiopia and Ghana, over 60% of Chinese investments in the countries constitute manufacturing. And the Chinese government is keen to see these numbers grow, having recently pledged an additional US$20 billion to the African economy over the next three years with an eye to developing infrastructure, agriculture and the development of small businesses.

Ranked as the poorest continent in the world, Africa has posted strong growth rates in recent years, second only to Asia, drawing increasing inward investment and giving rise to talk of its economic resilience, accompanied by much self-congratulation among officials. However, despite a projected GDP of 4.5% this year, a much more optimistic prospect compared to the debt-ridden economies of the west, industry players warn that the continent should not take a backseat in terms of creating opportunities for trade and investment.

 

View interactive book

View PDF Edition

 
CONTENTS
 
 
Latest Issue
Wednesday 23rd July 2014
Volume 11 Issue 29
   
Cover Story
IFN Rapid
News Briefs
Asset Management
Takaful
Ratings
Moves
IFN Reports
  Conventional banks switching to Islamic operations — testament to the industry’s capabilities
  Islamic finance: A healthy pipeline for Saudi healthcare
  The fall of a giant — can Al Rajhi rise again?
  Islamic entities lead Pakistan privatization program
IFN Country Correspondents
  France: Islamic finance task force to attract liquidity into infrastructure projects
  Sri Lanka: Domestic market sees dynamic growth
IFN Country Analysis
  Senegal: Sukuk dreams realized
IFN Sector Analysis
  Islamic leasing: Going global
Features
  Senegal issues Sukuk, becomes strong contender for West African Islamic finance hub
The government of Senegal issued a Sukuk of XOF100 billion (US$208 million) that closed on the 18th July, tapping a global market that could surpass record issuance of US$46.5 billion in 2012, according to arrangers ICD and Citigroup...
  Aircraft leasing: A first class opportunity for Islamic financing
Aircraft leasing was initially conceived as a tax efficient means of financing increasingly expensive commercial aircraft...
  Islamic leasing — the preferred choice
Ijarah leasing is a mode of finance that has been growing in popularity across multiple sectors and markets as a cost-effective method of financing both in the banking and non-banking sectors, either directly or through independent subsidiaries...
  MicroTakaful in Indonesia: A new business opportunity
MicroTakaful has a vast potential customer market around the world, and Shariah compliant microinsurance is making strides in emerging markets across the globe...
Case Study
Cagamas issue: The largest commodity Murabahah variable rate IMTN

Go top