FEEDING THE LIONS
Seven of the 10 fastest-growing economies through 2015 will be
in Africa, The Economist and the International Monetary Fund predict.
That’s good news for project sponsors in those countries seeking
foreign investment, which has been slower than expected to pour
into the continent. Economists now use the term “African lion” to
describe countries growing above 6 percent annually—despite the
But are the project landscapes in these fast-growing economies a
feast fit for a lion king?
2013 GDP Growth Forecast
Mining projects and infrastructure investment will push
growth this year, predicts the African Development
Oil and gas projects are spreading across Ghana, but funding issues surround a much-ballyhooed US$4 billion oil
and gas drilling development effort.
Amalgam company Derba Group plans to invest US$3.4
billion in seven projects by 2017. Construction on a
US$600 million steel mill, expected to be the country’s
largest, is already underway.
Strength in varied industries—including mining, agriculture, construction and transportation—is driving
Zambia’s economic growth and project opportunities.
Frequent power outages and currency inflation bring additional risks to projects in construction and mining.
Nigeria may be Africa’s largest oil producer, exporting 2. 5
million barrels a day, but in February, oil company Shell
postponed two deepwater drilling projects, totaling
US$30 billion, due to delays around an industry reform bill.
Congo’s mining industries keep the country’s economy
moving, but ongoing civil war brings high political risk to