The Financial Times will hold its second Africa Summit this October after breaking new ground last year in a relationship with the continent that stretches back to the paper’s opening issue more than 125 years ago.
For the past decade, Africa’s economic growth has been the second fastest in the world. That growth has been underpinned by smart policy choices, improved macro-economic management, increasing inflows of foreign investment but also the emergence of dynamic new African businesses tapping the demands of a burgeoning consumer class. The continent’s progress towards greater economic self reliance and political stability has also been underpinned at most times by favourable external conditions.
Sustaining the Momentum in what looks set to be a less benign external environment – with prices falling for many of the commodities African countries rely on for export earnings – will require governments to be more judicious in the way they spend scarce resources and more proactive in providing a competitive environment for business.
The 2015 FT Africa Summit will coincide with a flagship report assessing the state of the continent, and the pitfalls and opportunities that lie ahead.