ERA

Structural transformation in Africa’s economies remains the highest priority, and industrialization is the top strategy for achieving it in practice. Achieving the African Union’s Agenda 2063 and fulfilling the Sustainable Development Goals will demand a major re-design of growth strategies across the continent.

Despite the recent slowdown of the global economy and the weakening of Africa’s economic performance with the attendant implications for inclusion and sustainability, the long term growth outlook for Africa remains promising. The region’s long-term fundamentals remain strong as the pace of growth stands to benefit from a demographic dividend and an industrialization and structural transformation agenda. But its prospects will be profoundly shaped by the way the rapid urban transition is managed.