This report adds to the growing chorus of observers who say African economies, at least some of them, may have turned a corner and are now on the path to sustainable growth and poverty alleviation.
Among the findings of this new study: economic growth has been widespread in sub-Saharan Africa and broad since 2000 -- many economies have been growing and in many sectors.
What helps explain the change: policy reforms that led to an improved macroeconomic environment (lower inflation rates, smaller budget deficits, stable and appropriate exchange rates, among others) which in turns leads to improved micro-level outcomes (lowering costs of doing business locally and trading across borders).
As a result, African economies now offer investors, foreign and domestic, attractive opportunities and not just in the extractive industries or in commodities. Among these potentially attractive opportunities: providing goods and services for African consumers -- the report notes that the number of African households with discretionary income is projected to rise by 50% over the next ten years and top 125 million people.
Great news that hopefully will continue.
Photo: Market in Rwanda by Ben Stone