Bureau Chief, Southeastern U.S. and Caribbean
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May 10, 2013

Africa’s “lift-off” held back by illicit finance drain: AfDB

JOHANNESBURG (Reuters) – Africa’s economic development is being held back by a “hemorrhage” of illicit financial flows, which may be getting worse, the African Development Bank said on Friday, calling for reforms to stem the losses.

A draft report to be presented at the AfDB’s annual meeting in Morocco later this month shows net resource outflows from Africa totaling up to $1.4 trillion over the 30-year period to 2009, far exceeding inflows to the continent.

May 10, 2013

Africa’s emerging middle class drives growth and democracy

JOHANNESBURG (Reuters) – After years of headlines about Africa’s poverty, its emerging middle class is now grabbing attention as a driver of growth and democracy and an expanding pool of consumers for market-hungry retailers.

Consumer demand is a motor of Africa’s economic and investment surge, and analysts see middle class buyers with swelling disposable income as fuelling this boom from South Africa to Nigeria and Kenya.

Apr 15, 2013

Africa to have robust 2013-15 growth, must work on poverty: World Bank

JOHANNESBURG (Reuters) – Sub-Saharan Africa’s economic growth should accelerate to more than 5 percent over the next three years, far outpacing the global average, but the region must do more to convert this into reducing poverty, the World Bank said on Monday.

In its latest Africa’s Pulse analysis of prospects for the region, the bank saw increased investment, high commodity prices and a pick-up in the global economy driving this expected growth surge in the world’s poorest continent.

Apr 15, 2013

Africa to have robust 2013-15 growth, must work on poverty -W.Bank

JOHANNESBURG, April 15 (Reuters) – Sub-Saharan Africa’s
economic growth should accelerate to more than 5 percent over
the next three years, far outpacing the global average, but the
region must do more to convert this into reducing poverty, the
World Bank said on Monday.

In its latest Africa’s Pulse analysis of prospects for the
region, the bank saw increased investment, high commodity prices
and a pick-up in the global economy driving this expected growth
surge in the world’s poorest continent.

Apr 10, 2013

Investing in Africa: mind the bumps and rewards will come

JOHANNESBURG, April 10 (Reuters) – If you want to ride
Africa’s business boom, choose your country well and be ready
for bumps on the road. But the momentum is upward and you will
be rewarded if you stay the course.

African policy-makers and chief executives of companies
operating in Africa are spreading this upbeat message, qualified
with some caveats, as interest in what was once dubbed the
“hopeless continent” blossoms along with growth rates.

Apr 5, 2013

Analysis: Africa’s rise pays out dividends for democracy

JOHANNESBURG (Reuters) – Africa is rising not only on the growth charts of economists.

The continent that was a byword for poverty, chaos and bloodshed only a few decades ago, providing a media feast of famines and wars, is slowly but steadily notching up gains on the democracy scorecard too.

Apr 5, 2013

Africa’s rise pays out dividends for democracy

JOHANNESBURG (Reuters) – Africa is rising not only on the growth charts of economists.

The continent that was a byword for poverty, chaos and bloodshed only a few decades ago, providing a media feast of famines and wars, is slowly but steadily notching up gains on the democracy scorecard too.

Mar 27, 2013

BRICS “Big Five” find it hard to run as a herd

DURBAN, South Africa (Reuters) – At a summit in South Africa on Wednesday, Vladimir Putin likened the BRICS nations – Brazil, Russia, India, China and South Africa – to Africa’s “Big Five” game beasts of trophy hunting lore – the lion, elephant, buffalo, leopard and rhinoceros.

The Russian president’s comparison captures the dilemma of these muscular emerging global powers, which together present a formidable potential economic and political counterweight to the developed West, but individually could hardly be more different.

Mar 26, 2013

BRICS chafe under charge of “new imperialists” in Africa

DURBAN, South Africa, March 26 (Reuters) – “BRICS, Don’t
Carve Africa” reads a banner in a church hall in downtown Durban
where civil society activists have gathered to cast a critical
eye at a summit of five global emerging powers.

The slogan evokes the 19th Century conference in Berlin
where the predominant European colonial states carved up the
African continent in a scramble historians see as epitomising
the brash exploitative capitalism of the time.

Mar 24, 2013

Bozize ouster is latest power grab in Africa’s “phantom state”

DURBAN, South Africa (Reuters) – The French dubbed it the neglected “Cinderella” of their African colonial empire; modern observers have called it a “phantom state”.

Landlocked, isolated and poverty stricken, despite its reserves of gold, timber, uranium and gemstone quality diamonds, Central African Republic has been racked by debilitating rebellions for more than a decade.

    • About Pascal

      "I am based in Miami, heading the editorial reporting team covering the southeastern United States and the Caribbean. This includes Cuba and Haiti and we are also in charge of covering the annual Atlantic hurricane season and Space missions from Cape Canaveral. Previously, I was Chief Correspondent for West and Central Africa, and chief correspondent, Venezuela, following earlier postings in Cuba, Brazil, southern Africa, Portugal and Spain."
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