World Bank Africa Development Indicators 2006

Fewer conflicts and increased economic growth has made 2005 a turning point for the continent. Its annual study of the continent found that 16 African states had managed to maintain annual economic growth of more than 4.5% since the 1990s. Meanwhile, the number of African conflicts had fallen from a peak of 16 in 2002 to five in 2005. On a more negative note, the bank said foreign investment in the continent was just $10.1bn in 2004, only 1.6% of global foreign investment and that more than 50% of the funds were spent in Nigeria and Sudan. The report also highlighted the difficulty of starting a business in many parts of Africa – taking, across the continent, an average of 64 days. In more positive vein, the bank’s report said that countries including Senegal, Mozambique, Burkina Faso, Cameroon, Uganda and Ghana were on course to meet the target of halving poverty by 2010 – five years ahead of schedule. http://siteresources.worldbank.org/INTSTATINAFR/Resources/ADI_2006_text.pdf