When examining the current status of Africa, many might consider it to be in a desperate position. Yet, too often we overlook the success stories and the areas where, financially, Africa succeeds where most other regions flop. Despite various African countries doing poorly in terms of, say, currency, there are still viable financial incentives for foreign investment proving beneficial to everyone.
The housing market
A good example must be property. This can be seen in many African areas, but must be noted in South Africa. Shaun Rademeyer, a property analyst, told TimesLIVE:
“Despite dips in foreign investor confidence‚ with the falling rand and the threat of ‘junk status’‚ South Africa continues to remains an attractive and affordable property destination for overseas buyers‚ and we are likely to see more activity in this sector.”
The reasons are obvious. Whether it’s foreigners able to afford entire homes due to the value of their currency or locals using home loans to acquire new property, there is a newfound interest in property. Of course, there are still more buyers than properties – but, according to experts like Rademeyer, this will have the ultimate effect of balancing out a currently uneven market.
While there’s no denying issues of poverty affecting the entire continent, there are incredible efforts already being done to improve the situation. For example, Mozambique has done a great deal, as the World Bank highlights:
“Mozambique’s growth episode is one of the longest for low-income countries in recent years. In the period following the end of the civil war in 1992 and free elections in 1994, Mozambique has posted strong economic growth—averaging around 8% a year.”
The reasons are numerous but have directly to do with the government’s “pro-growth economic policies”. The World Bank lists these as: “sound monetary and fiscal policies to promote overall macroeconomic stability; lowering of restrictions on competition, such as price controls and inefficient monopolies; high levels of public investment in post-war reconstruction and infrastructure rehabilitation.”
What one African country does affects other nations. Using key figures who helped lift the country toward growth will make the whole continent better.
The continent suffers from numerous disease problems, but can count on rapid responses as a recent success. The Center for Infectious Disease Research and Policy highlighted recently:
“Representatives from 26 countries in Africa’s “meningitis belt” met yesterday in Addis Ababa, Ethiopia, to celebrate the fact that vaccination campaigns have nearly eliminated serogroup A meningitis cases on the continent, according to a World Health Organization (WHO) press release.”
There has also been enormous push for immunization and fighting childhood diseases, thanks to informed governmental health policies.
All of this shows that Africa is doing enormously well in terms of responding to the various local situations affecting it. Most of these issues aren’t solved, of course, but we shouldn’t overlook the gains already made by those on the continent.