Donald Kaberuka was speaking at the bank’s annual meeting held in China, the principal player in the clamour for Africa’s natural resources. Up to 800 Chinese companies are active in the continent sending two-way trade soaring to US$55.5bn.
Demand is such that the Tropical Forest Trust warned this week that western companies and consumers need to insist China use only legally certified wood to prevent further illegal logging and destruction of forest.
Massive demand had caused skyrocketing prices. Mr Kaberuka said Africa’s economies grew last year at an average of 5.5% and he predicted it would strengthen to 6.5% in 2007. “Today Africa is better poised for economic prosperity and better governance than it has been for decade,” he said.
