This chapter reviews macroeconomic conditions in the different regions and countries of Africa, and on the continent as a whole. It highlights past growth trends and projects future growth for 2017-18 based on prevailing global, regional and domestic dynamics and shocks. It examines the main drivers of growth on the supply and demand sides and provides comparisons at the regional level and based on the structure of African economies. The chapter also examines fiscal, monetary and financial sector policies, as well as external positions underpinning recent growth performance that are likely to shape the future growth paths of African countries.
This chapter analyses recent trends in external financial flows to Africa and domestic revenue collection. It explores how foreign direct investment, portfolio investment, remittances and official development assistance have evolved in 2015 and 2016, and their outlook for 2017. It highlights the growing importance of private flows in comparison to public ones. The chapter concludes with a description of domestic revenue performance in Africa from 2005 to 2015, as well as an analysis of the challenges to increasing domestic revenue mobilization.
Trade within Africa and its commercial relations with the rest of the world are changing quickly. This five-section chapter focuses on the diversification of Africa’s trade partners and products and the potential for further progress. It assesses global economic developments, explains the eight regional economic communities, their policies and integration initiatives, and provides ideas on how Africa’s private sector can maximize opportunities presented by regional and global value chains.
This chapter presents human development in Africa and its close links to entrepreneurship. It highlights the importance of investing in people – including their health and nutrition, knowledge and skills, and decent jobs and livelihoods – in order to unlock entrepreneurial activity across the continent. It discusses strategic actions in achieving significant reduction in risks of future progress such as unemployment, inequality and vulnerability.
This chapter looks at the most recent data on governance in Africa, with the intent of assessing the effectiveness of public institutions in supporting Africa’s development outcomes. It examines policy demands across the continent, current challenges in meeting these demands and examples of good initiatives paving the way forward.