Africa

1. Africa Where to and what can we offer

2. Africa The continent

3. Africa is the world's second-largest and second-most-populous continent. At about 30.2 million km² (11.7 million sq mi) including adjacent islands, it covers six percent of the Earth's total surface area and 20.4 percent of the total land area. With 1.1 billion people as of 2013, it accounts for about 15% of the world's human population.[3] The continent is surrounded by the Mediterranean Sea to the north, both the Suez Canal and the Red Sea along the Sinai Peninsula to the northeast, the Indian Ocean to the southeast, and the Atlantic Ocean to the west. The continent includes Madagascar and various archipelagos. It has 54 fully recognizedsovereign states ("countries"), nine territories and two de facto independent states with limited or no recognition.[4] Africa's population is the youngest among all the continents; 50% of Africans are 19 years old or younger. Algeriais Africa's largest country by area, and Nigeria is the largest by population. Africa, particularly central Eastern Africa, is widely accepted as the place of origin of humans and the Hominidaeclade (great apes), as evidenced by the discovery of the earliest hominids and their ancestors, as well as later ones that have been dated to around seven million years ago, including Sahelanthropus tchadensis, Australopithecus africanus, A. afarensis, Homo erectus, H. habilis and H. ergaster – with the earliest Homo sapiens (modern human) found in Ethiopia being dated to circa 200,000 years ago.[6] Africa straddles the equator and encompasses numerous climate areas; it is the only continent to stretch from the northern temperate to southern temperate zones

4. Region Rank World Rank Country 2013 GDP (nominal) millions of International dollars — — Africa 2,040,314 1 33 South Africa 350,779 2 38 Nigeria 286,470 3 41 Egypt 271,427 4 50 Algeria 206,095 5 60 Angola 121,704 6 61 Morocco 105,101 7 67 Sudan 70,127 8 68 Libya 67,622 9 79 Ethiopia 48,145 10 81 Tunisia 47,439 11 85 Ghana 44,223 12 83 Kenya 45,082 13 94 Democratic Republic of the Congo 30,639 14 98 Cameroon 27,957 15 97 Ivory Coast 28,288 16 102 Uganda 23,053 17 103 Zambia 22,416 18 107 Gabon 19,228 19 114 Equatorial Guinea 15,574

5. The African Union (AU) is a 54 member federation consisting of all of Africa's states except Morocco. • There is a policy in effect to decentralize the African Federation's institutions so that they are shared by all the states. • The African Union, not to be confused with the AU Commission, is formed by the Constitutive Act of the African Union, which aims to transform the African Economic Community, a federated commonwealth, into a state under established international conventions. • Political associations such as the African Union offer hope for greater co-operation and peace between the continent's many countries. Extensive human rights abuses still occur in several parts of Africa, often under the oversight of the state. Most of such violations occur for political reasons, often as a side effect of civil war. Countries where major human rights violations have been reported in recent times include the Democratic Republic of the Congo, Sierra Leone, Liberia, Sudan, Zimbabwe, and Côte d'Ivoire.

6. 20 115 Mozambique 15,329 21 116 Senegal 15,154 22 117 Botswana 14,837 23 120 Republic of the Congo 13,781 24 122 Chad 13,411 25 123 Zimbabwe 12,951 26 125 Namibia 12,318 27 126 Burkina Faso 12,247 28 127 Mauritius 11,930 29 130 Madagascar 11,210 30 131 Mali 11,070 31 139 Benin 8,310 32 141 Rwanda 7,431 33 142 Niger 7,359 34 145 Guinea 6,282 35 150 Togo 4,360 36 154 Malawi 3,814 37 152 Mauritania 4,187 38 155 Swaziland 3,620

7. 39 156 Eritrea 3,444 40 158 Burundi 2,723 41 159 Lesotho 2,276 42 162 Liberia 1,933 43 163 Cape Verde 1,920 44 166 Central African Republic 1,538 45 167 Djibouti 1,457 46 168 Seychelles 1,398 47 172 The Gambia 850 48 173 Guinea-Bissau 845 49 179 Comoros 652 50 183 São Tomé and Príncipe 308

8. THERE is no shortage of economic growth in Africa. Six of the world’s ten fastest growing economies of the past decade are in sub-Saharan Africa. A clutch of countries have enjoyed growth in income per person of more than 5% a year since 2007. • There is however a sense that the economic growth has passed much of the population of these countries by. • GDP is not a perfect measure of living standards. A new study from the Boston Consulting Group (BCG) and the Tony Blair Africa Governance Initiative takes a broader look at well-being in Africa. As well as income per person, BCG’s gauge of living standards includes jobs, governance, health, and inequality. Measured in this way, well-being in much of sub-Saharan Africa is lower than it ought to be, given rising average incomes per person. Levels of well-being in South Africa are out of whack with its GDP per head. Kenya and Ghana do a much better job of reaping the benefits of a growing economy. • Yet many of the countries whose well-being has improved most in the past five years are in Africa. This list is headed by Angola and includes Congo, Ethiopia, Lesotho, Malawi, Nigeria, Rwanda and Tanzania. All have enjoyed rapid growth in GDP per person. But they have also done well at translating that strong growth into improved well-being: in technical terms, the correlation between GDP per person and well-being above one in these countries (see chart). Income growth per person has been above 5% a year in Ghana, Mozambique and Uganda, too. But increases in well-being have not been quite as rapid as in the best performers.

9. The 20 Fastest Growing Economies In The World

10. #20: Rwanda • Est. 2012 GDP: +7.70% • Est. 2013 GDP: +7.50% • Est. 2013-2017 GDP CAGR: +8.23% • Economy: Rwanda has an easier time attaining high growth rates due to its low starting GDP, relative to developed European economies or the United States. Over 90% of the workforce is engaged in subsistence farming. The Rwandan government has invested in information technology as well as education in efforts to promote sustainable economic growth.

11. #19: The Gambia • Est. 2012 GDP: -1.62% • Est. 2013 GDP: +9.66% • Est. 2013-2017 • GDP CAGR: +8.35% • Economy: Gambia has few natural resources and an underdeveloped agricultural sector. The country is reliant upon transfer payments from abroad and foreign aid. Its position on this list is due to low base GDP, which artificially skews growth projections upwards relative to other nations. Tourism, particularly eco-tourism, is booming.

12. #17: Côte d'Ivoire • Est. 2012 GDP: +8.13% • Est. 2013 GDP: +6.99% • Est. 2013-2017 GDP CAGR: +8.63% • Economy: The Ivory Coast is the world’s largest producer and exporter of cocoa beans, and also produces and exports a sizable amount of other commodities, such as coffee, palm oil, and gold. Foreign investment has been reduced due to political instability and civil war, which threaten the nation’s growth.

13. #16: Ghana • Est. 2012 GDP: +8.18% • Est. 2013 GDP: +7.83% • Est. 2013-2017 GDP CAGR: +8.92% • Economy: Ghana’s developed Services sector contributes 50% of GDP, while oil, gold, and cocoa production provides the basis for future growth. Inflation is expected to outpace even robust real GDP growth over the next two years, and reducing the debt load remains a challenge for this middle-income African nation

14. #13: Zambia • Est. 2012 GDP: +6.47% • Est. 2013 GDP: +8.19% • Est. 2013-2017 GDP CAGR: +9.24% • Economy: Privatization of copper mines provided an impetus for growth since the 1990s. Economic growth is vulnerable to price shocks in copper. The IMF forgave $6 billion of Zambia’s debts in 2005. Along with high growth, the IMF also forecasts rising inflation in Zambia.

15. #12: Mozambique • Est. 2012 GDP: +7.50% • Est. 2013 GDP: +8.40% • Est. 2013-2017 GDP CAGR: +9.29% • Economy: The majority of Mozambique’s population lives below the poverty line, and foreign aid accounts for half of its government’s budget. Aluminium comprises a third of the nation’s exports, and volatility in the commodity’s price has an impact on GDP growth.

16. #11: Republic of the Congo • Est. 2012 GDP: +4.93% • Est. 2013 GDP: +5.29% • Est. 2013-2017 GDP CAGR: +9.31% • Economy: This nation is reliant upon oil exports – and their projected growth is linked to rising oil prices. Decades of chronic civil war contribute to an unstable business environment that continues to pose a threat to economic growth. Serving the nation’s debt obligation is also proving a challenge, and the Republic of the Congo received nearly $2 billion in debt relief via the IMF in 2010.

17. #8: Libya • Est. 2012 GDP: +121.90% • Est. 2013 GDP: +16.69% • Est. 2013-2017 GDP CAGR: +10.38% • Economy: Libya’s wealth is derived from its exports of oil and natural gas to Europe and China. Construction and service sectors are growing, both in value and as a share of GDP. The Libyan GDP per capita is among the highest in Africa, though income inequality remains high. Foreign investments to develop Libya’s natural resources are contingent upon political stability and national security.

18. #7: Democratic Republic of Timor-Leste • Est. 2012 GDP: +10.00% • Est. 2013 GDP: +10.00% • Est. 2013-2017 GDP CAGR: +11.92% • Economy: Offshore drilling for oil and gas is the principal source of government revenues. The government has increased spending on infrastructure to continue to repair damages caused by Indonesian troops in 1999. Unemployment and dependence upon O&G are roadblocks to growth

19. #3: Guinea • Est. 2012 GDP: +4.79% • Est. 2013 GDP: +5.01% • Est. 2013-2017 GDP CAGR: +16.27% • Economy: Guinea is among the world’s richest in natural resources, possessing half of available bauxite reserves in addition to iron ore, gold, and diamonds. Corruption is the nation’s primary barrier to economic growth. Access to international aid and foreign investment is contingent upon addressing this issue.

20. #2: South Sudan • Est. 2012 GDP: -54.98% • Est. 2013 GDP: +69.62% • Est. 2013-2017 GDP CAGR: +19.85% • Economy: The majority of South Sudan’s adult population still engages in subsistence farming. Government revenues come nearly wholly from oil, the country’s most abundant and valuable natural resource. As well, South Sudan has sovereignty over the White Nile valley, one of the most fertile grounds for agriculture in Africa. Poverty and insufficient infrastructure remain the top issues for the nation to address.

21. #1: São Tomé and Principe • Est. 2012 GDP: +4.5% • Est. 2013 GDP: +5.5% • Est. 2013-2017 GDP CAGR: +31.50% • Economy: This nation enjoys oil reserves in the Gulf of Guinea, and is transitioning from a cocoa-producing to a petroleum-producing nation. A burgeoning tourism industry, the institution of free markets, and inflows of foreign investment are the green shoots for this island economy. São Tomé and Principe are vulnerable to price shocks on their many imported goods.

22. Future Growth Economies • Namibia • Economy: This nation has just discovered oil reserves and with a small population it will grow extremely fast • Nigeria • Economy: This is also an oil rich economy that has been dogged by civil unrest but should this settle it has high growth potential. • DRC • Economy: This is the bread basket of Africa but is beset by war and civil unrest however they are moving towards a level of peace.

23. Africa Needs • The list of Africa needs are endless and the fulfilment is only limited by funding ability, these include: • Development of Potable water; • Roads and infrastructure; • Water reservoirs; • Power reticulation; • Mining advise and exploration funding; • Food security management;; • Telecom and communications; • Logistics and movement of goods; • Tourism development; • Etc. • It is therefore obvious that Africa holds myriad of investment opportunities for clients and investors however there is a risk profile and this is where through proper international funding and UN initiatives we can mitigate this risk

24. Opportunities for AGN Members • As much as we would like to promote opportunities for investors and clients but this does not really promote growth we however consider direct benefit for AGN members in Africa as follows: • Africa has a distinct skill shortage and many large international clients need audit and accounting work and if the AGN firms place themselves in a skills pool we can tender for large contracts; • Knowledge of UN nations working and tender procedures is an incredible benefit and this skill can be sold into the African organisation; • Specialist skills like forensic, investigation, banking review, internal systems controls are often required by United Nations and Banking fraternity and this can be provided by AGN firms; • Junior audit staff can be seconded to large work opportunities in Africa; • Senior management can lead work opportunities in Africa under the Africa AGN banner; • Local organisations like Singapore, Chinese governments need skills and they can be provided by local offices under the auspices of Africa; • Large areas in North Africa speak Arabic and have a fundamental Muslim society and thus the opportunity for Middle East firms; • The concept is simple there are major needs in Africa and there is an operation established to try and harness these needs but they need support and skills.

25. Partners in Africa • Ukaguzi katika Afrika • This is a new initiative which has been formulated by three of the African firms and reflect the opportunity of doing work with each other and developing AGN opportunities in the region. • This firm shall have it’s base in Nairobi and consist of three directors and shall look for opportunities which individual firms are not large enough to take full advantage of. • The firm shall base its business on United nations, Governmental and institutional work and will then look to the AGN group to find the necessary skills.

26. Mugo & Co. Mugo and Company is a firm of certified public accountants founded and registered since 1984 based in Nairobi Kenya. The firm is a firm with a team of 18 professional staff consisting of several qualified accountants who are members of the Institute of Certified Public Accountants of Kenya. They work closely with our clients in order to assist them attain their objective and have seen small client enterprises grow in strength over time with our professional guidance and participation, their clients range from private companies to public and government corporations. VA Business Assurance VA Business Assurance Service is a firm with offices in Arusha and Zanzibar in Tanzania and they believe that they support business community by offering quality services in the areas of external audit, tax consulting services and management consulting. They have a team of more than 16 professionals operating and have various clients from various industry backgrounds, majority being from Tourism industry, Not-For-Profit organizations, Training institutions, hospitals and government owned entities.

27. McMurray Aldum Inc. McMurray Aldum Inc. are a firm in Johannesburg South Africa and was established 21 years ago, it has two partners and five professional staff with a total staff complement of 40. They are a highly professional audit firm with intimate tax knowledge and with cross border experience. Sola Oyetaro & Co Is a high quality and personal service company in Lagos Nigeria they are committed to acting with integrity at all times and they believe that integrity starts with beliefs and actions. They believe their success is built on listening to what clients say about their most pressing challenges, their industry issues, and their own operations, whether relating to corporate governance, double taxation or a variety of legal matters and with this knowledge and their experience and professionalism they can help client find the services they need to meet their objectives.

28. Africa the centre of the new world