Botswana Speaks blog

African economies grow

Accodirng to an article published on Daily News, Africa has seen economic gains and is now regarded as one of the most attractive investment destinations.
 
Speaking at the beginning of Society for Worldwide Interbank Financial Telecommunications (SWIFT) Africa Regional Conference  held in Gaborone on May 21, the Minister of Finance and Development Planning, Mr Kenneth Matambo said the continent has been largely resilient in a competitive and interconnected global economy.
 

Mr Matambo said even though there are pockets of civil strife and political unrest in some parts of the continent, the number of these troubling events has been significantly reduced and now is moving towards entrenchment of democratic dispensation, adherence to the rule of law, sound economic reforms and overall good economic performance.
 
“As a result, far from being hopeless, African governments are increasingly able to raise funds from international bond markets, while investment in Africa has grown at an annual rate of nearly 13 per cent since 2007,” he said.
 
The minister said the transformation is taking place at a time when there is increased economic interconnectedness in which there is a relative shift of power towards emerging markets.
 
“This shift brings with it increased opportunities for a more equitable sharing of the benefits of global wealth and income,” he said adding in order for this to be realized, there needs to be increased inclusiveness in economic governance at global, regional and sub-regional levels for the benefit of all citizens in the continent.
 
Mr Matambo said SWIFT plays an important role in further fostering the global inter-connectedness through the financial messaging network and related products and services.

Read more on Daily News

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