But there is also a darker side to the picture. The global crisis is continuing, with no end in slight unless you are delusional. Africa is running out of fiscal space as inflation is hitting high double digits in, for example, East Africa.
The Eurozone remains the continent’s main trading partner and prolonged slowdown in the EU and the US mean demand for exports of goods and services will remain constrained. International commodity prices, which have a determining influence on the economies of so many African countries, are likely to stay weak for quite some time, clouding African prospects.