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Jersey’s Value to Africa

Behind Asia, sub-Saharan Africa has become one of the world’s fastest growing regions. With growth rates of 5.1 per cent in Ghana and 6.2 per cent in Nigeria in the third quarter of last year, some countries on the continent are eclipsing the opportunities on offer in other emerging markets.

Despite this, Africa has only been a minor recipient of foreign investment. A recent report commissioned by Jersey Finance, ‘Jersey’s Value to Africa’, showed that the stock of inward foreign direct investment in Africa was US$687 billion in 2013, almost a quarter less than in Latin America and the Caribbean, and only 2.7 per cent of the world‘s total.

However, there are signs that this could be changing. Over the past decade, Africa’s economy has grown by an average of 5.2 per cent a year, in part due to improvements in political stability and governance, development of key infrastructure and expansion of the natural resources industries.

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