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Speech by Hon. Dr. Kwabena Duffuor

The pronounced pick-up in Africa’s economic growth in recent years has attracted the world’s attention. Three recent studies using different approaches to identify groups of top performers in the world all reached the same conclusion, namely, significant parts of the African region is making decisive break with the past.

In his book, Emerging Africa (2010), Steven Radelet identified 17 non-oil emerging African economies based not only on growth, but other important economic, political, and social factors, including the rise of more democratic and accountable governments and implementation of better economic policies.

Recently, the Economist (January 6, 2011) reported that since 2001, sub-Saharan Africa had been home to six of the world’s top ten fastest growing economies, which it dubbed, ‘’Sub-Saharan Africa’s lion kings’’. The gains were attributable not only to global demand for commodities, but also to structural reforms and better economic management.