Infrastructure improvements 'critical to economic growth'

30 May 2012

In order to achieve significant and sustainable growth, Africa must address infrastructure problems and the inadequate diversification of industrial output.

That is a according to Rob Davies, South Africa's trade and industry minister, who said it is important that the country integrates with those that surround it.

Mr Davies noted that South Africa is one of the most promising economies anywhere in the world, AllAfrica.com reports.

However, he stated that this potential will only be realised through significant investment and an improvement in infrastructure.

"In fact, after Asia, the African continent is increasingly widely recognised as the next growth frontier and dynamic business people can no longer afford not be involved in it," commented Mr Davies.

"Six of the ten fastest growing economies today are located in the African continent."

He pointed out that unlike the US and the eurozone, the continent of Africa has proven its resilience throughout the global economic downturn.

Category: General