The ability of Sub-Saharan Africa’s economies to generate enough jobs for its young and growing population rests on the successful implementation of urgent reforms to boost productivity. This is the key finding of the Africa Competitiveness Report 2017.
High levels of inequality across Africa have prevented much of the benefits of recent growth from reaching the continent’s poorest people. To combat inequality in Africa, political and business leaders have to shape a profoundly different type of economy.
Although the recent economic expansion of countries in Asia and the Pacific has been steady, it is modest compared with the recent historical trend owing to prolonged weak external demand, rising trade protectionism and heightened global uncertainty.
Sub-Saharan Africa experienced a slowdown in investment growth from nearly 8% in 2014 to 0.6% in 2015, according to the new Africa’s Pulse, a biannual analysis of the state of African economies conducted by the World Bank. This sluggish investment has coincided with a sharp deceleration in economic growth in Africa.
Since 2000, Zimbabwe has been under some pressure to provide more fully for its children. It is not clear whether child poverty has worsened, although AIDS, drought, and economic mismanagement have all compromised poverty reduction.