Africa's+Economic+Systems

=Intro=

Africa has the worst economy in the world and is the poorest inhabited continent. Overall, Africa's economy is rising slowly, but only about 1 to 2 percent per year. Over 36 percent of Afica's population lives on under a dollar per day. Starvation and famine also continue to rise in Africa not because food isn't available but, because of low income. There are three major economic sysems that can be found throughout Africa. They are traditional, command, and market. Most of Africa has a traditional economic sysem. A traditioonal econmoic system is when traditions, customs, and beliefs determine its function. []

=Kenya's Economy=

Kenya's economy is presently in a poor state, but is steadily rising. This year it is expected to raise over 4%. The main concerns about Kenya's economy are increased droughts and decreased tourism. Also, agricultral export sectors are hurting with the poor economy. Earlier this year, Kenya announced a national emergency because of its lack of rain threatened the lives of ten million people who were in need of food and medical aid. Although Kenya still has many economic struggles, its economy is gradually rising up to 7% per year.[] = = == [] = = =Nigeria's Economy=

Nigeria's economy rocketed in the 1970s when gas and oil was discovered. In 2002, 98% of Nigeria's export earnings came from the oil industry. The gas and oil industries did have a negative effect though. Resettlement from the countryside areas into the city occured leaving the rural communities in poverty. As oil levels decreased, Nigeria tried to start up agriculture exports again but were unsuccessful because of poor management and negligence. Nigeria has also had significant decreases in the export of cocoa, groundnuts, rubber, and palm oil. In 1998 Gen. Sani Abacha who ruled Nigeria died. After his death, U.S. aid helped sustain a democracy and create a better government. Presently, Nigeria's economy is rising and has great potential with the help of U.S. aid. []

=Egypt's Economy=

Most of Egypt's economic activity occurs in the lush Nile River Valley. Since 2006, Egypt's stock market has been rising about 7 percent per year. Alough the economy in Egypt is rising, the living standards have remained the same for most of the population because of stagnant wages and high inflation. The main exports from Egypt are petrolium, cotton, farm produce, and natural gas. The main imports are coal, vessels, military vehicles, and wheat. As of 2009, Egypt's economy has slowed to 5% due to the global finance crisis, but it still remains stable. Also, a slump in tourism has added to Egypt's economic woes. [] = = == [] = = =South Africa's Economy=

South Africa has a growing economy that is by far the best in Africa. South Africa has a mineral rich landscape and produces the vast majority of Africa's electricity. South Africa's annual economic growth rate is over 4%. South Africa also has a stock exchange that rates in the top twenty on the planet. The legal restrictions of South Africa are also among the best. South Africa's economic success was due to the new democracy that occured in 1994. A major threat to South Africa's economy is their shortage of electricity. Luckily, the government is presently addressing the problem by constructing new generation power stations. Other problems such as HIV/Aids, unemployment, poverty, and large wealth desparities threaten the country. Despite these challenges, South Africa's economy continuess to grow and rise. http://www.southafrica.info/business/economy/econoverview.htm

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