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Economic Systems of Nigeria & South Africa. Nigeria Type of Economic System: Mixed (mostly command) CommandMarket Economy focuses on exporting OIL! Corrupt.

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Presentation on theme: "Economic Systems of Nigeria & South Africa. Nigeria Type of Economic System: Mixed (mostly command) CommandMarket Economy focuses on exporting OIL! Corrupt."— Presentation transcript:

1 Economic Systems of Nigeria & South Africa

2 Nigeria Type of Economic System: Mixed (mostly command) CommandMarket Economy focuses on exporting OIL! Corrupt government keeps the economy from becoming better Most Nigerians live in poverty and suffer from famine

3 South Africa Type of Economic System: Mixed (mostly market) Command Market Most developed economy in Africa! Economy focuses on exporting DIAMONDS, found through mining White population is still much wealthier than the black population …… **This is a result of APARTHEID**

4 Improving Economies…  What are ways that countries in Africa can improve their economies?  Investment in Human Capital (workers) Through education Better benefits  Investment in Capital goods New technology New machinery  Southern African Development Community (SADC)  9 South African countries came together in 1980 to help financial growth  The Economic Community of West African States (ECOWAS)  Created in 1975 to raise the standard of living and stability in West African countries

5 ~Literacy Rates in Africa~ Usually lower for women than men in Africa. Girls have to do farm work, gather water, etc. Higher Literacy rates = higher GDP & higher STANDARD OF LIVING Literacy rates in Africa are on average about 50% which is LOW! Remember that literacy rates affect not only an individual, but also their community. Sudan and Egypt both have a literacy rate of only 51% South Africa, the most developed country in Africa, only has a literacy rate of 83%.


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