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4/9/13

Africa: This could be 'African decade': says Goldman Sachs's O'Neill

Fast growing Africa could be a dominant force in the world's economic landscape for decades to come if the continent gets its act together, top Goldman Sachs economist Jim O'Neill said Tuesday.

Africa was "one part of the world that has got a very high growth rate that is accelerating," said O'Neill, the firm's asset management chairman, pointing to a forecast of six percent growth this decade.

But to harness the boom, African leaders must improve technology, education and the rule of law, including reducing corruption, he said. "If all of those things happen, this is going to be Africa's decade," he told an African Venture Capital Association conference.

Read more: This could be 'African decade': Goldman Sachs's O'Neill

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