It is becoming more and more noticable that foreign investment is higher in Africa than in any other developing region. Statistics show that real GDP in Africa rose from 4.9 percent a year between 2000 and 2008 – figures which are growing at a pace twice as fast as in the 1980s and 90s. A McKinsey & Company report published evidence to suggest African households are becoming wealthier, drive the economy forward and as a result provide enormous growth opportunities for consumer companies.
Further figures provided by the UN show that in the last ten years, six of the ten fastest-growing countries were African. True, there is still corruption, piracy, poverty and disease but there is also real prospect. Africa is expected to grow by 6 percent this year, this is almost the same as what is projected for Asia. The continent is steadily beginning to develop a sophisticated manufacturing and service based economy. And of course, the land does benefit from the revenue produced by its natural resources.
Perhaps one thing Africa may be in need of now more than ever is is a good system of translation services. With the growth of Africa continuing as it is, there inevitably becomes an increasing need and demand for professional African language translation assistance. A recent study however showed that Africa used only about 0.25 per cent of the world’s translation revenue. Western Europe and America together used 70 per cent of the market share whereas Latin America and Africa put together hardly used 1 per cent.
Africa is home to more than 2,000 languages spread across six major language families, still despite the multilingualism of the continent, the Swahili language is the lingua franca of the east coast of Africa, making perhaps the most important language for when it comes to translation. By removing linguistic barriers, Africa would undoubtedly be better equipped to maintain its economic momentum and develop its much acclaimed growth.