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Economic Report on Africa

Economic Report on Africa 2024
Investing in a Just and Sustainable Transition in Africa
The Economic Report on Africa 2024 lays out the case for investing in a just and sustainable transition to meet the aspirations of the 2030 Agenda and Agenda 2063 for building a prosperous Africa. Building on country case studies and the findings and recommendations of previous Reports touching on structural transformations and sustainability transitions the 2024 Report assesses the conditions for pursuing that transition in Africa and for catalysing the needed investments. African countries can leverage the global boom in “green” minerals and their large renewable-energy resources tropical forests and marine ecosystems to export premium carbon credits generating finance for sustainable investments. International financing through multilateral development banks and other mechanisms for climate action could leverage additional funding from other sources.

Economic Report on Africa 2023
Building Africa’s Resilience to Global Economic Shocks
The 2023 Economic Report on Africa focuses on the impact of multiple and recurring global shocks on African economies and the extent to which these shocks impede Africa’s prospects for achieving the targets set in the Sustainable Development Goals. The principal lessons are that shocks of various magnitude duration and recurrence have played a major part in shaping economic performance in the last several decades undermining Africa’s aspirations for sustained growth and rapid economic transformation that could benefit from demographic (youth bulge) and geographic (urbanization) trends. In addition successive shocks have had scarring effects that have made it difficult for African economies to recover fully even after a short-lived shock such as the Global Financial Crisis. More important the damages caused by shocks could morph into other domains such as political instability and conflict undermining recovery and resilience to future shocks. The report also emphasizes the opportunities presented by the shocks to implement long overdue structural and public finance reforms that take full advantage of such regional initiatives as the African Continental Free Trade Area.

Economic Report on Africa 2021
Addressing Poverty and Vulnerability in Africa During the COVID-19 Pandemic
The report applies a poverty-vulnerability-resilience framework to examine the impact of COVID-19 on household well-being in Africa. The report emphasizes the dynamic nature of poverty since some of the poor are not poor all the time though they are often vulnerable because of exposure to a multitude of risks that can push them below the poverty line and increase chronic poverty. Reducing vulnerability to risks is critical for enhancing well-being and reducing future poverty.

Economic Report on Africa 2020
Innovative Finance for Private Sector Development in Africa
This publication examines the role of innovative finance for business sector development as a pathway to financing and achieving Africa’s sustainable development and Agenda 2063. It articulates how innovative sources of finance can be utilized to finance Africa’s business sector development taking into account innovations in the financial services sector and financial technologies as one of the main mechanisms for transitioning African countries to inclusive economic growth and sustainable development. The publication further provides strategic guidance to the business sector decision makers and policy makers in Africa on critical regulations and measures needed to be deployed for the creation and use of innovative financing mechanisms by the private sector to leverage increased investment and financing of SDGs/infrastructure enhanced productivity job creation and prosperity.

Economic Report on Africa 2019
Fiscal Policy for Financing Sustainable Development in Africa

Economic Report on Africa 2017
Urbanization and Industrialization for Africa’s Transformation
The 2017 Economic Report on Africa focuses on the linkages between industrialization and urbanization. Urbanization is one of Africa mega trends with profound implications for the social economic environmental dimensions of growth and transformation. Theory and experience demonstrate that industrialization and urbanization can be mutually reinforcing processes. It is therefore imperative to explore the linkages between urbanization and industrialization given the profound implications for structural transformation in Africa. So far current policy narratives and frameworks on structural transformation and industrialization in Africa have largely failed to factor in the spatial and urban dimensions of industrialization and in particular the advantages presented by productivity enhancement and agglomeration effects generated by cities. Yet the nexus between urbanization and industrialization is of particular relevance for Agenda 2063 and the 2030 Agenda on Sustainable Development. Both agendas recognize urbanization as a critical factor for sustainable development. It is also important to consider urbanization and industrialization in light of Africa’s engagement with the Third United Nations Conference on Housing and Sustainable Urban Development (Habitat III) to be held in Quito Ecuador in October 2016. In this context African policy makers have clearly recognized urbanization as an engine of structural transformation for inclusive and sustainable growth.

Economic Report on Africa 2016
Greening Africa’s Industrialization

Economic Report on Africa 2015
Industrializing Through Trade

Economic Report on Africa 2014
Dynamic Industrial Policy in Africa

Economic Report on Africa 2013
Making the Most of Africa's Commodities-Industrializing for Growth, Jobs and Economic Transformation

Economic Report on Africa 2012
Unleashing Africa’s Potential as a Pole of Global Growth
This publication assesses long-term trends in Africa’s growth analyses the factors behind the recent growth momentum and provides global perspectives on the key challenges to be addressed which are critical to unleashing the role of Africa as a global growth pole. The main aim of this publication is to facilitate discussion on concrete policy directions and actions at both national and regional levels that would help Africa realize its growth potential. As in previous editions the first part of the report examines recent economic and social developments as well as some selected current and emerging development issues in Africa. The second part focuses on the question of how to address key constraints and unleash the potential of the continent as a new pole of global growth.

Economic Report on Africa 2011
Governing Development in Africa - The Role of the State in Economic Transformation
Many African economies are still characterized by a heavy reliance on the primary sector high vulnerability to external shocks jobless growth and slow progress towards social development. It is essential for African countries to promote economic diversification and structural transformation as a means to accelerate and sustain broad-based and shared high-employment-generating growth. This Report highlights that failure of earlier state-led and market-driven approaches to promoting economic transformation points to the need for fostering long-term investment rapid and sustained economic growth equity and social development within inclusive transparent and comprehensive development frameworks.

Economic Report on Africa 2010
Promoting High-level Sustainable Growth to Reduce Unemployment in Africa
The report focuses on how the recent global economic downfalls have compounded the unemployment rates in most African countries thus also hindering real economic growth. Organized into two sections ERA 2010 dissects the current unemployment trajectory citing both macro and microeconomic contributing factors. Additionally the publication stresses on establishing the current economic climate as a learning tool for developing a comprehensive development planning framework.

Economic Report on Africa 2009
Developing African Agriculture Through Regional Value Chains
The Economic Report on Africa 2009 (ERA 2009) is organized into two parts. Part I examines global economic developments and their implication for Africa analyses recent economic and social trends and highlights emerging development challenges to the continent in 2008. Part II is devoted to the issue of regional value challenges to developing African agriculture. ERA 2009 then focuses on the question of how to enhance structural transformation of African agriculture through systematic efforts to develop regionally integrated value chains and markets for selected strategic food and agricultural commodities. Finally the report urges African governments to operationalize commitments to develop agriculture and suggests strategies that promote viable value chains at the national and regional levels.

Economic Report on Africa 2008
Africa and the Monterrey Consensus - Tracking Performance and Progress
Economic Report on Africa (ERA) is the key instrument through which African economic performance is tracked and assessed by the United Nations Economic Commission for Africa (ECA) and the African Union Commission (AUC). One of the main goals of the ERA is to identify policy challenges that countries face on the continent and to suggest practical solutions. ERA 2008 assesses progress in terms of meeting international commitments to Africa in the six core areas of the Monterrey Consensus: mobilizing domestic financial resources for development; mobilizing international resources for development; promoting international trade as an engine of development; increasing international financial and technical cooperation for development; external debt relief and sustainability; and addressing systemic issues.

Economic Report on Africa 2007
Accelerating Africa’s Development through Diversification
Profound changes are increasingly occurring in all areas of the world economy. While the industrialized and emerging economies are able to contain the multiple external and internal shocks generated by these changes Africa on its part is still struggling to cope with them. The analyses reported in the present edition of the Report review the world economy and map out prospects for development in Africa through the institution of structural reforms to diversify and modernize the economy enhance competitiveness promote trade accelerate growth and reduce poverty.

Economic Report on Africa 2006
Capital Flows and Development Financing in Africa
Capital flows to Africa in the form of aid remittances and foreign direct investment have increased considerably over the past four years. However they are unevenly distributed among countries. In addition capital flows to Africa are highly volatile and unpredictable increasing macroeconomic uncertainty and undermining government’s ability to design and sustain long-term development plans. The 2006 edition of the Report places capital flows at the centre of the debate on development financing and examines how external capital can help countries accelerate growth and reduce poverty.

Economic Report on Africa 2005
Meeting the Challenges of Unemployment and Poverty in Africa
With the highest incidence of poverty in the world Africa urgently needs to create more employment and thus tackle the scourge of hunger malnutrition and the overall low living standards the continent continues to witness. In addition to its traditional role of reviewing Africa’s economic performance over the preceding year and projecting medium-term prospects for the continent this year’s Economic Report on Africa the sixth in an annual series provides a detailed analysis of the challenges of unemployment and poverty reduction key issues at the heart of the debate on Africa’s development.

Economic Report on Africa 2004
Unlocking Africa’s Trade Potential
The Economic Report on Africa is an annual series that reviews the continent’s economic performance and near-term prospects. This year’s report’s main conclusion is that trade liberalization alone will not boost growth and poverty reduction in Africa. In 2003 Africa was the second fastest growing developing region yet only 5 countries achieved the 7% or higher growth rate required to reach the Millennium Development Goal of halving poverty by 2015. FDIs inflows continued to increase but still remain largely concentrated in the natural resources sector. Although the regional outlook for 2004 is positive with growth projected to accelerate there are still several downside risks to be faced.

Economic Report on Africa 2002
Tracking Performance and Progress
Africa was the only developing region to accelerate its growth in a turbulent year that saw the synchronized slowdown of all major economies and heightened uncertainty about prospects for the world’s largest economy. Yet Africa’s average annual GDP growth of 4.3% masks sharp disparities. This year’s report builds on the work of the two previous reports in laying out an agenda for Africa based on systematic benchmarking of economic performances. It begins with a discussion of broad economic trends in 2001 and prospects for 2002. It also reveals general improvements in policy. Finally in a new feature this report supplements the traditional region-wide analysis with seven in-depth country studies.