New prospects for private sector led trade, investment, and economic development in sub-Saharan Africa

After 2 decades of declining economic performance, sub-Saharan Africa is currently staging a promising recovery. Over the past several years, average real economic growth in the region has increased significantly while, in a growing number of countries, real GDP per capita has been positive. In 1998, despite financial turmoil in Asia and Latin America, Africa enjoyed its 4th consecutive year of positive GDP growth. Nevertheless, Africa's current economic recovery remains fragile. Fortunately, there are reasons to be optimistic that many African countries can overcome the remaining hurdles to sustained growth. A new generation of African leaders and entrepreneurs and current developments have the potential to fuel economic growth in ways not heretofore anticipated.