Africa seen as window of opportunity
From Creamer Media in Johannesburg, this is the Real Economy Report. Banking group Standard Bank says there are very few regions in the world that has lively per capita consumption of commodities, which presents Africa with a window of opportunity. Natasha Odendaal has more.
Natasha Odendaal:
Despite only boasting two-thirds of the G7 group of economies’ gross domestic product in 2009, the E7 grouping – the worlds largest emerging market – would boast twice the size of output in terms of GDP by 2050. However, while this is an important, albeit ongoing, trend, it was the microeconomics underpinning this that was worthy of a closer look.
A window of opportunity has emerged for Africa as the continent stands out as the one region in the world where the per capita consumption of commodities and low- and high-end durable goods was expected to have robust growth rates, while the rich world had passed its peak.
Standard Bank’s chief economist Goolam Ballim discusses how there may just be only one decade left of still-accelerating commodities consumption:
Standard Bank’s chief economist Goolam Ballim
Shannon de Ryhove:
Other news making headlines this week: Innovative building technologies can aid delivery of social infrastructure; and, Brics to face internal economic headwinds in 2014.
Social infrastructure, including clinics, schools and student accommodation, will be constructed using innovative building technologies (IBTs), which can reduce costs by up to 41% and construction time by up to 50%, says research organisation Council for Scientific and Industrial Research (CSIR) Built Environment Unit principal researcher Llewellyn van Wyk.
CSIR Built Environment Unit principal researcher Llewellyn van Wyk
The seemingly tough year experienced by the Brazil, Russia, India, China and South Africa (or Brics) economic grouping during 2013 was expected to continue this year, as the bloc increasingly faces internal challenges.
Senior research analyst for the African political economy unit Simon Freemantle
That’s Creamer Media’s Real Economy Report. Join us again next week for more news and insight into South Africa’s real economy.