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African Trade: More Blocks Than Roads

1) The president of Nigeria noted that it is easier to trade goods between African countries and Europe or the rest of the world than between African countries themselves, due to lack of infrastructure and cultural/political barriers. 2) While private sectors may help improve transport links over time, it will take years to provide decent transport infrastructure across Africa to facilitate more intra-continental trade and collaboration given the challenges. 3) The article recommends an analysis by Nigeria's finance minister, who predicts that some frontier African economies will sustain strong growth in 2013, led by Nigeria, Ethiopia, and Angola, accompanied by continued growth in other countries, and hopes that increased investment within Africa will encourage African professionals to return.

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25 views

African Trade: More Blocks Than Roads

1) The president of Nigeria noted that it is easier to trade goods between African countries and Europe or the rest of the world than between African countries themselves, due to lack of infrastructure and cultural/political barriers. 2) While private sectors may help improve transport links over time, it will take years to provide decent transport infrastructure across Africa to facilitate more intra-continental trade and collaboration given the challenges. 3) The article recommends an analysis by Nigeria's finance minister, who predicts that some frontier African economies will sustain strong growth in 2013, led by Nigeria, Ethiopia, and Angola, accompanied by continued growth in other countries, and hopes that increased investment within Africa will encourage African professionals to return.

Uploaded by

dandiaconeasa
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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African trade

More blocks than roads


Jan 24th 2013, 17:34 by J.A.
READING some of the reports from the Swiss mountain resort
of Davos, where the great and the good are gathered at the
annual bash of the World Economic Forum, Cassandra was
struck by a pithy comment from Nigeria's president, Goodluck
Jonathan:
It is easier to move goods from African countries to Europe
and the rest of the world than to trade between one African
country and another.
He is, of course, rightand, despite the optimistic view of
Graham Mackay, boss of the South African brewing giant
SABMIller, that the private sector will come to the rescue, it
will take years to provide decent transport links across the
continent and cultural, religious and political hurdles to intra-
continental collaboration will not be surmounted overnight. It
is hard, for example, to imagine Egypt doing much trade with
Senagal, or Tanzania with Ghana.
Nontheless, it is entirely possibleeven probablethat Africa, blessed with abundant natural
resources and a young, energetic and increasingly educated population, will rival Asia as the continent
of the 21st century.

I recommend this article in The World in 2013 by Ngozi Okonjo-Iweala, Nigeria's formidable finance
minister (pictured). As she says:
In 2013 some frontier African economies will at last complete this transitionand become
established members of the emerging-markets club...Across the continent, economies have grown
strongly, despite the global economic malaise, and I believe this growth will be sustained in 2013, led
by the robust economic performance of Nigeria, Ethiopia and Angola, accompanied by sustained
growth in Ghana, Cte dIvoire, Kenya, Uganda, South Africa and Tanzania.
Let's hope she's right, not just in her economic predictions but also in her assertion that "Africa will
invest in Africa":
Africa investing in Africa will become an important slogan for Nigeria, South Africa and Angola, and
will encourage more African professionals in the diaspora to return to the continent to seek
opportunity and contribute their skills.
If she is right, Nigeria's president, beset by all the problems of terrorism and corruption, may finally
deserve his name

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