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Economic Report on Africa 2012

Unleashing Africa’s Potential as a Pole of Global Growth

image of Economic Report on Africa 2012

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.

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Unleashing Africa’s Development Capacity

African economies have grown impressively over the past decade, but the sources of growth have been mainly agriculture and natural resources (see chapters 2 and 3). Taking advantage of global conditions, Africa must now unleash its potential and grow even faster. To do this, it must diversify its economic foundations, industrialize further, address key development challenges in governance and institutions, human capital, technology, infrastructure and agriculture, and promote regional integration and new development partnerships.

English

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