'Growth in Africa could benefit SA'
THE current slow trend in global demand should be used as an opportunity for Africans to strengthen trading across Africa, the World Bank has said.
New World Bank vice-president for Africa, Makhtar Diop, told the media - following a meeting with South Africa's leaders - that "If you have slowdown in the world demand outside the African continent, ensuring that there is more trade within Africa can also help in assisting with growth in individual countries".
Diop, who was in the country and met with Finance Minister Pravin Gordhan, Public Enterprise Minister Malusi Gigaba and the Minister in the Presidency for National Planning Commission Trevor Manuel, said: "As we see more robust growth in Africa and countries managing better their natural resources, growth in African countries could be also a source of growth for South Africa."
He said the slow demand outside Africa should be viewed as an opportunity for Africa "to trade within herself", and conceded that European debt crisis was also a threat to African growth.
"Growth in Africa is largely export-led and the shrinking in world demand, particularly in Europe and other parts of the world, might have an impact in terms of that growth," said Diop.