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
  UAE’s mission to Mars
  Tadawul’s liberalization: A gateway to untapped opportunities
  Sovereign Sukuk market: Gears still moving
IFN Country Analysis
  Turkey — in a pinch
IFN Sector Analysis
  Walking the line: Shariah compliant corporate governance
Features
  Islamic finance in Turkey
Islamic banking is currently dominated by Iran, Saudi Arabia and Malaysia, but offers significant promise in Turkey given the country’s strong financial structure and distinctive potential...
  Islamic finance corporate governance in Egypt — less than sophisticated
The corporate governance policies and practices of Islamic financial institutions, while similar in several aspects to those implemented in conventional financial institutions, include certain elements that correspond to and reflect the special characteristics of the products they offer and the image of such institutions in the market...
  Corporate governance in the UK Islamic finance industry
Despite anchoring itself in the Islamic finance space, the UK has yet to see its Shariah compliant retail banking sector take off, prompting for a policy re-think and governance framework restructuring...
  Takaful in Indonesia: Room for growth
Over the last five years, the market share of the Indonesian Islamic insurance industry has increased steadily to 4.2% in 2012 from 2.13% in 2008, according to the latest available official data...
Case Study
Al Hilal Bank’s sophomore Sukuk issuance

Go top