Jersey Finance has commissioned respected independent research firm, Capital Economics, to identify what contribution Jersey can make to Africa and whether international finance centres can be a catalyst for growth in developing countries.
Many African countries are known for their endemic poverty and weak economic performance. Despite making up 15% of the world’s population, the entire continent accounts for just 4% of the global economy.
However there are signs that this is changing. Over the last decade, Africa’s economy has grown by an average 5.2% each year making it one of the fastest growing regions in the world. But, for this growth to continue, by 2040, a cumulative investment of $85 trillion, which is the equivalent of one year’s global GDP, must be generated into infrastructure, machinery, buildings and homes.
This investment cannot be plugged locally alone. This report looks at how international finance centres, and Jersey in particular, can play a fundamental role in filling that gap and putting Africa on track to fulfil its economic potential.
The following report, entitled ‘Jersey’s Value to Africa’ has been prepared by the respected independent firm Capital Economics.
Published on 12 November 2014, it seeks to quantify Africa’s investment gap and identify how IFCs, in particular Jersey, can help plug that gap.
The full report together with a summary report and associated press release are available below:
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