Making way for business growth in Africa
African countries s are increasingly relying on the private sector as the engine of growth as well as directly challenging governance problems. Lately we see how in Africa political support does exist for the role of the state as regulator, facilitator, and agent of redistribution for equity, as shown in success stories.
Africa’s goal to improve competitiveness and employment has never been this strong. Improved competitiveness and employment in Africa is said to be achieved by closing the gap between infrastructure needs and investments and support efforts to make it easier for business to operate. In addition, the plan will focus on building and developing the skills of workers.
The idea here is to assist countries to diversify their economies and generate jobs, especially for the 7-10 million young people entering the labour force each year.
It’s no secret that when Africa is hindered by factors pertaining to economic, health-related, natural disasters and conflict, the people who are directly affected by such conditions are the poor. Ironically, it is these conditions that keep the underprivileged from growing and bettering their livelihoods. By focusing on better health care, dealing preemptively with the effects of climate change through improved irrigation and water management, and strengthening public agencies to share resources more fairly and build consensus, the plan seeks to reduce the number of shocks and limit the damage from those that do occur.
Critical services, in education, health and basic infrastructure, are too often either not delivered or delivered badly because of weak management of public funds. The Bank’s program of support aims to give citizens better information on what they should expect from their governments, as well as the capacity to report on instances when services are not delivered properly. The Bank will also work directly with governments to help them improve their systems and capacity to deliver basic services and manage accounts.
#Africagrowth #improvedcompetitiveness #improvedeconomies #improvedemployment