Business / Economy
Zimbabwe is the fastest-growing economy in Africa
06 Nov 2012 at 04:55hrs | Views
SUN CITY - A LEADING United Nations environmentalist cited Zimbabwe as the fastest-growing economy in Africa after defying a decade of economic meltdown.
Addressing more than 25 African countries attending the Systems Applications Products (SAP) Saphila Summit at Sun City in the North West Province of South Africa last week, Mr Valli Moosa, who is also former South African Minister of Environment, said economies for Zimbabwe, alongside Mozambique, Ghana, Rwanda, Nigeria, Kenya and Ethiopia were leapfrogging traditionally tipped emerging markets believed to be registering significant growth.
He added that the Zimbabwean economy was growing fastest in Sub-Saharan Africa as compared to some BRICS (Brazil, Russia, India, China and South Africa) countries, who Mr Moosa, quoting from the recent Global Watchdog Report, accused of severe involvement in corrupt activities.
Zimbabwe, he said, had the capacity to leapfrog many economies widely believed to be strong provided the country moves out of political quagmire.
"Zimbabwe is the fastest growing economy in Africa today, and is among the fastest growing economies in world," said Mr Moosa.
The Southern African country is emerging from major economic and political problems.
Meanwhile, Mr Moosa said political and social investments must flow in one direction if Africa is to maintain the growth momentum.
He was speaking about the effects of environmental degradation in the African continent and across the world, which he said were threatening adaptability.
He cited destruction of rainforests, poaching of rhi­nos, poor agricultural methods, which he said were contributing to the looming global warming.
Mr Moosa urged Africa and the world to conserve their rainforests, environs and wildlife in order to minimise the effects of global warning.
Addressing more than 25 African countries attending the Systems Applications Products (SAP) Saphila Summit at Sun City in the North West Province of South Africa last week, Mr Valli Moosa, who is also former South African Minister of Environment, said economies for Zimbabwe, alongside Mozambique, Ghana, Rwanda, Nigeria, Kenya and Ethiopia were leapfrogging traditionally tipped emerging markets believed to be registering significant growth.
He added that the Zimbabwean economy was growing fastest in Sub-Saharan Africa as compared to some BRICS (Brazil, Russia, India, China and South Africa) countries, who Mr Moosa, quoting from the recent Global Watchdog Report, accused of severe involvement in corrupt activities.
Zimbabwe, he said, had the capacity to leapfrog many economies widely believed to be strong provided the country moves out of political quagmire.
"Zimbabwe is the fastest growing economy in Africa today, and is among the fastest growing economies in world," said Mr Moosa.
Meanwhile, Mr Moosa said political and social investments must flow in one direction if Africa is to maintain the growth momentum.
He was speaking about the effects of environmental degradation in the African continent and across the world, which he said were threatening adaptability.
He cited destruction of rainforests, poaching of rhi­nos, poor agricultural methods, which he said were contributing to the looming global warming.
Mr Moosa urged Africa and the world to conserve their rainforests, environs and wildlife in order to minimise the effects of global warning.
Source - CAJ News.
