West Africa surplus looms
West African economies have performed well over the last decade, registering annual growth rates of up to eight per cent. However, as the region furiously builds new production facilities, overcapacity is set to hit the cement sector and the environment remains rather uncertain. By Trond Waerp & Finn Arnoldsen, Africa Consulting Services, Norway.
West Africa, defined as the area bordered by the Atlantic Ocean, Mauritania, Algeria, Libya, Chad and Cameroon, has shown relatively strong economic development over the last decade with annual growth rates of 4-8 per cent.
Going forward and strongly dependent on political stability, inflow of foreign investments, and important infrastructure development, this part of the African continent is expected to continue its economic expansion with a growth rate of around seven per cent annually.