Economy

On Wednesday, October 29, 2014, Zambia’s Vice President, Guy Scott, has been appointed President of Zambia, hence becoming the first post independence African white head of state. He has replaced the late Zambian President Michael Chilufya Sata, following the death of the latter in London on October 28, 2014.

Although his appointment is temporary, the fact that he is white in an African democratic independent country make him a first. The only other white heads of state were either under apartheid in South Africa or during colonial times.

The United States economy grew faster than previously thought in the second quarter of 2014, the Commerce Department said on Thursday, August 28, 2014. The latest numbers confirm the signs of a sustainable growth and the continued positive outlook of the US economy. Reacting to the news, President Obama expressed his satisfaction and said that “companies are investing, consumers are spending...There are reasons to feel good about the direction that we are headed"

The growth was fueled by several factors including manufacturing, increased investment by businesses, and foreign trade.

The end of an era is here: after spending the last two decades trying to expand their businesses and make money in BRIC nations (Brazil, Russia, India, and China) , the World, rather the American, international investors appear to have shifted their focus: the motto may now be "It is Africa Stupid!".   In fact, Africa is where the money is to be made. The point was hightlighted during the US-Africa Leaders Summit in Washington. The Summit, attended by 50 African heads of states, was uprecedented: in its attendance, in setting a new tone for US-Africa relations and its expectations.

President Obama put it clearly in his speech on Tuesday, August 5, 2014:"I want Africans buying more American products. I want Americans buying more African products."