Several people have been asking about the implications for Africa of the U.S. Federal Reserve Bank’s decision to buy $600 billion in bonds—known as “quantitative easing 2”. Four points:
Our third “Kenya Economic Update” – Kenya at the Tipping Point? – notes Kenya’s strong economic recovery in 2010 reaching 4.9 percent of GDP. For 2011, we forecast growth of 5.3 percent. The special Focus on the ICT Revolution and mobile money captures the economic momentum which is now spreading across Africa. Kenya now has 21 million phone subscribers, the vast majority connected by cell phones.