ABSTRACT
Africa is a rapidly changing continent. But for many, it is still an unknown place, shrouded by myths and distorted perceptions. Despite having over 20 per cent of the world’s land area and 14 per cent of the world’s population, the 54 countries only accounted for 2.2 per cent of the world’s trade by value in 2016, compared with 38.5 per cent from Europe and 40.7 per cent from Asia (UNCTAD, 2016). Africa is in many ways still a marginalised continent. But things are certainly changing, and are going to change much more in the near future – it is a case of ‘watch this space’! Economic growth in China and India has dominated the early years of the twenty-first century and has led to the emergence of a large middle class in Asia. Despite often unreliable statistical evidence, there are signs that this may be happening in some African countries, and Africa will undoubtedly be the continent to watch in the next 20 years and beyond. Although frequently starting from a low base, economic growth rates in some African countries are currently among the highest in the world, with 13 African countries recording average annual growth rates in GDP above 6 per cent over the period 2007–2015 (AfDB, 2016).
