Despite recovery, Africa needs more jobs, says ECA

Assorted Nigeria News

A few nice Nigeria Economy images I found:

Despite recovery, Africa needs more jobs, says ECA
Nigeria Economy
Image by Africa Renewal
Collecting millet in North Darfur. By investing in labour-intensive sectors like agriculture and agro-industries, African countries could better tap the potential of their large work forces, says the UN Economic Commission for Africa. Photo-Albert Gonzalez Farran

This year Africa’s economies will generally perform better than in 2009. According to the just-published Economic Report on Africa, the continent’s average growth rate will reach 4.3 per cent, up from less than 2 per cent last year — a period marked by devastatingly bad performances worldwide following the global economic slowdown. Within the continent, adds the report by the UN Economic Commission for Africa (ECA), oil-exporting countries in sub-Saharan Africa, including Nigeria and Angola, are expected to benefit from an increased demand from Asia, although world oil prices dropped sharply in May. They are expected to lead the continent with 5.1 per cent average growth.

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The ECA report confirms an evident trend in recent months, as signs of Africa’s faster-than-expected economic recovery in 2010 have become increasingly common. Shortly after optimistic predictions by the UN Department of Economic and Social Affairs were made public in January, forecasts by the World Bank, the International Monetary Fund and the African Development Bank indicated that the continent will bounce back faster and better than most other world regions, lagging only behind East and South Asia. There is general agreement that the continent’s growth is set to surpass 4 per cent this year.

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Despite recovery, Africa needs more jobs, says ECA

de young museum
Nigeria Economy
Image by CRASH:candy
eli anatsui – hovor II – 2004

born in ghana in 1944, anatsui has spent his life largely in nigeria. his work reflects an awareness of both the international contemporary art market and what he calls "classical" african art. in hovor II he has transformed discarded metal bottle tops into a monumental textilelike sculpture. small strips of metal are flattened and fastened together with copper wire to form sheets. the sheets are then joined in an overall pattern that recalls the woven and pieced designs of kente clothe, a traditional type of asante or ewe royal cloth that is worn during important social, political or religious occasions. in addition being a reference to royal cloth, this piece is also a contemporary on our global economy of consumption and recycling. it is a stunning work of art that conveys ideas about the resilience of african traditions over time and the reality of contemporary existence in africa.

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Press Conference – Nigerias Renewal
Nigeria Economy
Image by World Economic Forum
Ngozi Okonjo-Iweala, Coordinating Minister for the Economy and Minister of Finance of Nigeria at the World Economic Forum on Africa in Abuja, Nigeria 2014. Copyright by World Economic Forum / Jakob Polacsek

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