2005 in Africa - Economy

Economy

• Economic growth: Omar Kabbaj, president of the African Development Bank (AfDB), announced that the economic growth 2004 for the African continent has been exceptional, with a growth rate of 4,5% (4,1% in 2003). Central Africa knew a growth rate of 8,7%, Eastern Africa 6,5%, North Africa 4,7% and Western Africa 4%. The AfDB president however regretted that "the continent continually has to deal with major challenges, like conflicts, the strong incidence of poverty and an inexorable progression of the AIDS pandemia."
• Aeronautics: The Economic and Monetary Community of Central Africa (Cemac) and the airline Royal Air Maroc on 24 February 2005 signed a draft agreement for the establishment of the regional airline Air Cémac.
• Western Africa: The BCEAO (Banque Centrale des États de l'Afrique de l'Ouest, "Central Bank of the States of Western Africa") affirmed on 22 February to have recovered 99,21% of the franc CFA notes of the 1992 range, at the end of a demonetisation operation which was completed on 18 February.
• Aeronautics/Mali: The first stone of the Institut africain des métiers de l'aérien ("African Institute of Aeronautic Skills") was cast on 17 March 2005 at the Bamako-Sénou airport site. This new school was initiated by the airline Air France.