Economics and politics at play in the wooing of Africa

The global spotlight is shining brightly on Africa this week and the next. Leaders from top states in the continent are, separately, meeting Donald Trump, Xi Jinping, Theresa May and Angela Merkel, underlining their growing importance, especially on the economic front.

Politically, the continent has also assumed some additional influence. Yet, it is economically that the continent is especially coming of age, boasting a growing number of key emerging markets as highlighted in last month's South Africa-hosted meeting for the member-countries of BRICS (a grouping comprising Brazil, Russia, India, China and South Africa).

The growing economic weight of the continent is illustrated by the fact that it houses six of the world's top 12 fastest-growing countries: Ethiopia, Democratic Republic of Congo, Cote d'Ivoire, Mozambique, Tanzania and Rwanda. Moreover, the International Monetary Fund (IMF) also asserts that in the five years to 2023, Africa's overall growth prospects will be among the best in the world.