FDI in Africa jumps by 25 pct

Economic and social conditions are improving in Africa with maternal deaths falling by 26 percent, and HIV infections stabilising good news to a continent which rarely hits headlines for achievements made

These are not the only encouraging indicators the continet is showcasing on the global stage.

According to the World Bank, foriegn direct investment jumped by 25 percent to an estimated $35.6 billion, after declining sharply in 2011 and 2010.

“The business climate is also improving and favourable economic prospects are attracting investment inflows in telecommunications, real estate, and retail sectors…remittances have rebounded aswell posting a high of $23 billion in 2011,” the World Bank said in a breifing on Friday.

The Bank said that for the first time since 1981, less than half of Africa’s population 47 percent of the population lived below $1.25 a day in 2008.

“The rate was 51 percent in 1981. The $1.25 a day poverty in sub Sharan Africa has fallen 10 percentage points since 1999,” the Bank said.

On the regions economic overview, the Banks said the outlook is positive with forecast growth rates of 5.3 percent in 2012, and 5.6 percent in 2013, over the pre crisis levels of 5 percent.

But the Bank was cautious saying that the forecast would change in the event of a deteriorating global economy.