The African flame flickers to life

摘要

David Hale, founder of Hale Advisors LLC, gave many reasons to be optimistic in his presentation on Africa's economic outlook for 2007. With the African economy poised for growth close to 6 percent, high commodity prices boosting export revenue to 369 billion US dollars, rising foreign direct investment (FDI) and benign world economic conditions, Africa had much potential, he said. Hale pointed to improvement in Africa's quality of government as a major factor that has enhanced its economic performance. Fewer ethnic and religious conflicts (though still a concern) and budding democratic institutions have raised capital inflows - though mainly into commodity-producing sectors such as oil production and mining.