Razia Khan writing in the east
African Business week of June 30-Jly 6, 2014, questioned whether Africa was
really growing. His argument was that the statistics quality in Africa from
different agencies did not enable Africa to know whether it was growing or not.
According to him, the data in Africa is so bad that it does not enable any
meaningful interpretation. Khan is head of Africa research at Standard
Chartered bank in London. In a way he is challenging the school or thought that
Africa has been growing rapidly in the last decade. I cannot agree with him
more, poverty in Africa is simply increasing. Possibly we have economic growth
without economic growth. Many world leaders and economists have been saying it
is time for Africa to lead the way in economic growth following China. My view
is that Africa is not ready yet. The concept of business is still foreign to
many Africans given that approximately 70% or more of Africans are not yet in
the business/industrial economy.
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