Even as headlines shriek about “Africa”s economy undergoing some form of turmoil or the other, increasingly, indepth focused reports point out that the East African Community is performing exceedingly well. “Africa”, it turns out, is a vast and diverse continent made up of more than 50 countries. The IMF said:
…the multi-speed growth in the 1.4 % regional aggregate growth this year over-shadowed the prevailing diversity across the region. Almost half of the 45 countries in the region (south of the Sahara), including Côte d’Ivoire, Ethiopia, Senegal, and Tanzania, he noted, would continue to enjoy robust growth, with economic output set to expand by 6 per cent or more by this year…
while the World Bank chimed in with:
…the region’s economic performance in 2017 will continue to be marked by variation across countries.
It was when UNCTAD’s Mukhisa Kituyi pointed out that in East Africa, intra-regional trade is closer to 26% – double the figure generally touted for the continent’s performance, that it struck me how much the current approach to considering metrics for the continent hid so much of the value. Either the entire continent is taken as a whole, or as “sub Saharan Africa” including South Africa. Once I’ve seen the use of SSAXSA – those parts of the continent that aren’t North or South. Perhaps its time to disaggregate our assessments even further?
While this post isn’t meant to be a comprehensive literature review, so much as an evidence based request for more focused and granular analysis of the opportunity spaces on the African continent, here’s a variety of areas where the EAC countries tend to rank in the top 10. Note that they’re all from different sources as well.