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Africa’s economy is growing steadily

20150530-inc403.pngAfrica’s economy is growing steadily. Last year average growth was 3.9% and it is set to accelerate this year, according to a report by the African Development Bank. Foreign direct investment (FDI) is helping to spur growth. It is expected to reach $55 billion in 2015, 20% higher than in 2010. Inflows of capital are increasingly focused on less resource-rich countries, as investors target the continent’s booming middle classes. The amount of investment into technology, retail and business services increased by 17 percentage points between 2007 and 2013. Foreign investment is also becoming more of a two-way affair. Last year Africa’s outward investment hit $11.4 billion, up by nearly two-fifths since 2011-12

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