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Axis Human Capital Group Supports Ghana’s Continued Growth9 Years AgoGhana, Africa - Axis
Human Capital, a recruitment group based in Africa, supports Ghana’s
continued growth and development in its economy.
According
to the African Economic Outlook, the country remains positive with projected
GDP growth of 8.3%. Moreover, Ghana’s government statistics added that the
value of goods and services produced in the 3rd quarter of 2014 grew by 0.7%
compared to the 2nd quarter of 2014.
The
growth drivers of 2014 are the following:
Livestock
– 17.9% Finance
and Insurance Activities – 6.4% Fishing
– 6.4% Electricity
- 6.4%
Africa’s
growth and development increased by 5.1% in the 3rd quarter of 2014
compared to the review of data in 2013. The Industry sector recorded the
highest growth of 8.1%, the Agriculture Sector followed with 4.4%, while
Services recorded a growth rate of 3.5%.
This
may be the reason that Trading Economics data in 2014 states that in the three
months to September, quarterly changes reflect an increase in employment and
decrease in unemployment rate. Increases in employment were observed in both
the formal and the informal sectors. Employment increased by 16,000 in the
Agricultural industry. Compared to a
year earlier, employment increased by 81,000.
Just
like in Jakarta, Indonesia, Kuala Lumpur in Malaysia and Hongkong, which have
now been reported to increase in their employment rate, this is largely due to
increases in the formal and the informal sectors that grew by 134,000 and 85,000
jobs respectively in third quarter of 2014.
Although Africa, as a whole,
still remained to be recorded to have the highest unemployment rate in the
world, Ghana’s development has triggered hope among its fellow African
countries in the possibility of slow growth towards economic success. After
all, the continent is home to a third of planet’s mineral reserves,
a tenth of the oil and it produces two-thirds of the diamonds. Investors have
believed that the continent is far richer in natural resources than any country
is.
Economists
and researchers review Africa to be one of the fastest growing regions in the
world. With the promise of better education system, infrastructure development
and sensible revolutionary reforms, Africa may lead a hope of a bright future
ahead. |