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source: BBC news
South African miner

Africa’s economy is growing but could do better, says the report
Africa’s continent-wide economy will grow faster this year, but structural changes are still needed if it is to catch up with the rest of the world.

The continent is expected to achieve economic growth of 6.2% in 2007, an expansion on last year’s 5.5%, said a report from the World Economic Forum.

Despite this growth, the study said Africa was still being held back by factors such as poor infrastructure.

It added that corruption and poor access to finance were other concerns.

The Africa Competitiveness Report further said that much of the continent’s current growth was being fuelled by external factors such as high commodity prices, debt relief and a upbeat international economic environment.

“Truly sustainable growth, however, must be based on solid domestic foundations rather than a cyclical or [continue reading]