Overview and summary of findings

During the last decade, macro-economic stability, improved private sector development policies and improved governance, have driven Africa’s economy growth at a steady rate of nearly seven per cent. The global recession of 2008 curtailed these growth trajectories in most African countries, but the continent is still one of the fastest growing regions of the world. However, the fruits of rapid growth have not been spread evenly. For years, many African governments gave priority to the social sectors in order to develop primary health care and basic education. While much has been achieved, additional efforts are still required. With changing demographics where young people are flocking into the cities and joining the labour market, the need to provide job opportunities has become critical. This demands a more inclusive growth path, with industry having an important role in expanding employment, GDP and trade.

Related Subject(s): International Trade and Finance