Monday, March 3, 2014

2014 African Transformation Report

The Accra-based African Center for Economic Transformation (ACET) just published its 2014 African Transformation Report: Growth with Depth

Economic transformation is the consensus paradigm for Africa's development.  The impressive economic growth of many African countries since the mid-1990s--as well as the progress in governance and the turnaround in investor confidence--provides a solid foundation for transforming African economies for better jobs and shared prosperity.

By 2050, Sub-Saharan Africa will have a larger and younger workforce than China or India.  With the continent's abundant land and natural resources, that workforce can be a global competitive advantage and a great asset in driving economic transformation.

The report's main premise is that African economies need more than growth.  They also need to diversify their production, make their exports competitive, increase the productivity of farms, firms and government offices, and upgrade the technology they use throughout the economy.  All of this should be aimed at  improving human well-being.

This massive study contains the following chapters:

1:  Tracking Economic Transformation
2:  The State and the Private Sector--Partners in Transformation
3:  Promoting Exports--Essential for Transformation
4:  Building Technical Knowledge and Skills
5:  Leveraging Abundant Labor for Manufacturing
6:  Kickstarting Agroprocessing Value Chains
7:  Managing Oil, Gas, and Minerals
8:  Boosting Tourism

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