Africa and the credit crisis

It looks like most of Africa will not be affected too badly during this period of financial mayhem, reports the BBC, there are even plans to create a free trade zone. Not all news is bad news.

Posted by email from Design in Africa (posterous)

16 Responses to “Africa and the credit crisis”

  1. Yakhyo Kayumov Says:

    Actually some non African developing countries also have been announcing similar thing about their economies due to the less interaction with world market. However, this crisis touched up on the prices of raw materials which those countries mainly benefit from.

    • Ajee Euring Says:

      The statement that where you stated that thhe crisis touches up on materials is true. So if the prices on material is raised then we we could still end up in another crisis because while some places are benefiting from the raising prices others are losing money buying materials that could possibly be a neccesity in their daily lives whch would leave us in another crisis.

  2. Sylvia Henderson Says:

    There are mirco fiance charities that give small loans to people trying make a go of things in countries where getting conventional loans. One I deal with is Kiva where for the cost of a meal I can give a little to someone it means so much to. They deal with micro fiance groups that give the loans out. It is important to get the individual who has the will to support the family the means to do so.

  3. Andrija Says:

    Here in Croatia the crisis just made slightly worse the already ongoing crisis for the past 15 years. I suppose that is the case with African countries, only they have original crisis longer around.

  4. Daniel Akeju Says:

    African was in Financial Crisis before the new mayhem. And who said it did not affect Africans? Some of the African countries are consumers of oversea’s products hence the effect will even be higher. Many might not note it because they were already use to hard conditions.

    Is it easy for an average man in Africa to secure loan to finance a small scale business before the mayhem? The mayhem makes things worse.

  5. Albert D. Nyuangar Says:

    we here in liberia was hit as we was trying to built our economy.How because of the HIPC and the help from the world bank this Financial Crisis was not as bad for us as others. So i agree with the writer the most of africa will not be affected too badly during this period. All we need is give to those who are hit badly.

  6. gviewpro Says:

    I think there should be an idea reinstated, that was put forward in the 70ties.
    Stable prices for raw products that mostly come from the so called developing countries. This would provide them with a stable state budget, which would make their planning a lot easier.

  7. Patricia Says:

    Africa should use this opportunity to reverse roles and “ride on the back” of the developed world…..

    African countries should maximize their potential by exporting finished products rather than raw materials. This would help them “reap big.”

  8. Jay Spence Says:

    Reducing restriction with the free trade bill has continuosly worked in other markets. This will actually be a follow up from the European Union and will help to stabalize the devastated market through diversity. It also will help fund removing terrorist from this area. I belive the hospital funding to fight AIDS in the last two years have led to such achievements. Check where the money is driving from and see it I am right. Challege?

    Join my site and join the movement,!

  9. Jack Says:

    The people of Africa, who endure the hardship of everyday life would be perfect candidates for colonizing another Earth like planet, as would other peoples of the third world. Imagine getting a thousand acres of land on a pristine planet for each person who signs up! This will mo be as easy to accomplish if they are all turned into couch potatoes by modern improvements.

  10. Terry Says:

    With a recession, there may be less donations of food and goods from developed countries to Africa. This may actually help Africa by giving farmers an economic incentive to produce food for their local economies rather than losing money by competing with free gifts forced on them from the West.

  11. Mandla david Says:

    Y iz da world ignoring o pausing da use of solar energy da most abundant form of energy wid global warming even winters in south africa r like summer if lorries n ldv’s cn b fitted wid solar panels n b cnvected into electrical motors imagine wat dat wud do 4 our ozone layer da cost of petrol wud diminish n logistics wud neva b n issue egen households wud neva spend n arm n a leg 4 energy n mst houses wud b fitted wid electricity dan ppl being told 2 wait 4 2013 4 electricity n wat abt da ungodly loadsheddings @ odd hours da fuel price dat keeps going up n making life unbearable 4 da layman y iz da world pretending 2b oblivious of solar energy ? Iz it bcoz fat cats wud loose billions n we wud stop forking out our livelyhoods 2 scrape a living wat abt our enviroment ? We al kno abt solar energy y iz da implementation of such taking 4 eva n a half 4 hw long r we going 2 b fuel addicts n paralyse our ozone whn r we goin 2 start usin sun energy

  12. Kris Musselman Says:

    The most effecient ways to start is to look at what natural resources Africa has to offer. Turning these natural R’s into financial resources is a good place to start. Heat, deserts, some rivers, but also a lot of cheap labor. Is industrialization the answer? This argument often turns to sweatshops and labor abuse, what can someone elighten me what the barriers to exit for workers is? Havent they gained the on-the-job training to open a similar plant or do similar work if they dont want to be abused? This may also be a case of the poor economic freedom of these countries:

    Id like to hear more about this from people more knowledgable/closer to the issues

  13. Kruno Says:

    Unfortunatelly most of Africa natural wealth is in hands of so called “western” democracies , so effectivelly african nations gets only crumbs from whats being extracted from their contries. Its somewhat a new type of colonialism slavery trough multinational companies.

  14. mattymon Says:

    I agree with Kruno. A lot of the times, we as the ‘Northern’ nations do a lot of harm to the people of Africa. Not just implementing things like our lifestyle is better than yours, but just the fact that we intervene and preach and try to assimilate is damaging to a culture that is so different from ours

  15. Garrott Bryce Taylor Says:

    It’s both good and bad that Africa is not being affected by the current financial crisis most of the world is experiencing. It’s good because they don’t need to be any worse off than they already are. But, it’s bad because it shows how little involvement the world actually has with the continent. If major countries could begin implementing business through Africa and even going as far as creating social programs offering their citizens to move and begin populating Africa at their expense I think the world would see a drastic change in the status of this poor country.
    Instead of building on what we have in our own countries. Why can’t we start building in new ones?

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