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Sierra Leone beats Ghana as West Africa’s economy grows 6.9% in 2012

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kaneshie_marketWest Africa’s economy grew at a rate of 6.9% during the year 2012, an increase of over 5.9% in 2011, regional bloc ECOWAS announced March 1, 2013.

Sierra Leone recorded the highest economic growth rate ahead of Ghana and other countries in the sub-region.

Of the 15 ECOWAS countries, Sierra Leone recorded the highest economic growth rate of 18.3% compared to the expected rate of 8% for Burkina Faso, Ivory Coast, Ghana, Liberia and Niger, while Mali recorded a recession, the report indicated.

The achieved economic growth in the sub-region was more than double the global rate, the report by ECOWAS indicated.

“In spite of the global slow down, regional growth remained robust with a growth estimated at 6.9 per cent,” President of the ECOWAS Commission, Kadré Désiré Ouédraogo said in his annual report to regional leaders at the just-ended 42nd ECOWAS Summit in Ivory Coast.

The report covers various aspects of ECOWAS’ activities and programmes for the year under review.

According to ECOWAS, the figures which compare favourably with the 5.3% for sub-Saharan Africa and 4.5% for Africa over the same period were driven mainly by “good rainfall and positive developments in the mining and petroleum sectors.”

But for the political crises in Guinea-Bissau and Mali, the ECOWAS President said the Community implemented its 2012 work programme in an atmosphere characterised by “relative political stability and improved political and economic governance.”

Nigeria has the biggest economy in the region followed by Ghana.

By Ekow Quandzie

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5 comments

  1. This is goodnews for Sierra Leone. I only hope this growth will reflect on the lives of the people

  2. AHMED WURIE (BALOSTER)

    This is great news for our country and our people. This is due to our leader President Earnest Bai Koroma and his Government. GREAT NEWS.

  3. Good news for our beloved great nation, may GOD continue to bless Salone and bless the ones that love and working hard to uplift our nation.

  4. This, surely, is fanciful as far as the citizens of Sierra Leone are concerned. The Board of the Extractive Industries Transparency Initiative (EITI) that sets standards to make sure that the citizenry of resource rich countries benefit from monies raised from extraction of their natural resources has just suspended Sierra Leone for failing to meet their standards. We joined in 2007, and since then each annual report has proved that individuals and foreigners benefit far more, almost totally, from the wealth of our country than its citizens. So, tell this good News to the marines, and lets start asking many more questions of our Government. This is Bad News in every respect, and God help us.

  5. Good news for Sierra leone and thanks to our sound leaders.
    but they should take the basic amenities and infrastructures very serious.Once there are constant water supply, Electricity and good roads, the economy will be more greater…. Bravo sierra leone for making this mark, we are coming home