Africa on track to higher growth, says bank

Despite souring international oil prices, Africa's on course to achieve higher growth rate. This is according to the African Development Bank, which opens its annual meeting in Maputo tomorrow. However, Finance Minister Trevor Manuel says urgent steps must be taken to address the current food shortage.

They have remained resilient as high oil prices wreak havoc and Africa's growth prospects remain positive.

This year the meeting will focus on growth, poverty and inequality and hunger sits on top of the list of priorities. President Thabo Mbeki and his Congolese counterpart will also be attending the meeting.

“In spite of all these difficulties this year, African economies will grow at around 6% on average. If you take the countries producing oil and minerals, they will grow at around 7%,” says African Development Bank President Donald Kaberuka.