Africa is likely to see economic growth of 5.8 per cent in 2007, its best performance for 25 years, according to Reinhard Cluse, senior Europe, Middle East and Africa economist at UBS Investment Bank.

“And, unlike past cycles, where boom was usually followed by bust, African growth appears more stable now, with just a modest slowdown expected for 2008,” says Mr Cluse in a weighty report written with Clemens Grafe.