On this Africa Day, we celebrate the continent's progress and potential with a deep dive into key economic and technological issues shaping its future. As the African Continental Free Trade Area (AfCFTA) marks its fifth year, our latest papers explore how to boost private sector engagement for meaningful trade. We also examine Africa's post-COVID debt challenges and propose a financial stability mechanism. Delving into the impact of new technologies on employment, we discuss the future of work in Africa. Our spotlight includes expert insights on industrial policies, agricultural sustainability but also cultural and creative industries. How can Africa leverage these opportunities for inclusive growth and development?
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Fostering investment and inclusivity in Africa’s Continental Free Trade Area
As the African Continental Free Trade Area (AfCFTA) marks its fifth year, institutional progress is clear, yet meaningful trade remains elusive due to varied private sector engagement. Can member states boost private sector participation to fully harness AfCFTA's potential?
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| Debt Dynamics and Financial Stability in Africa
African countries suffered their worst recession in fifty years due to COVID-19, with a GDP decline of -1.5% in 2020. Despite a swift recovery, debt prospects remain bleak, exacerbated by the Russia/Ukraine crisis. International debt relief efforts have fallen short. Could a financial stability mechanism help African countries secure sustainable finances and maintain market access?
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The Impact of New Technologies on Employment and the Workforce: What are the Implications for Developing Countries, especially in Africa?
New technologies like automation, AI, and industrial robots are seen as threats to jobs, but some argue they could create new opportunities and boost wages. Despite past gains in productivity and living standards, these advances also disrupt labor markets. How will these technological changes impact Africa's workforce amid rising inequality and labor market polarization, and what can governments do to ensure inclusive benefits for all? ... Read more
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The Cultural and Creative Industries in Africa
The creative economy, driven by cultural industries, is rapidly growing and impacting education, innovation, and collaboration, becoming a key path to economic development in less-developed countries. In Africa and Latin America, the sector is booming, fostering a cultural revolution and serving as a vehicle for soft power. How can transatlantic cooperation harness these industries to foster collective prosperity and integrate culture into global markets? ... Read more
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| Africafé: Innovations and Industrial Policies in Africa
In this episode, Mr. Arkebe Oqubay Metiku, British Academy Global Professor at SOAS University of London, explores Africa's industrial policies and their growth impact. We dive into innovation, regional collaboration, sustainability, and key sectors like tech and manufacturing. How can Africa's industrial policies boost regional collaboration and balance growth with sustainability and social equity? ... Watch
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| Can Africa learn to feed itself?
Despite exceptions like Rwanda, Morocco, and Tunisia, about 80% of Africa remains dependent on others, putting their populations at risk, according to Hamza Rkha Chaham, Co-founder and Managing Director of SOWIT. In a podcast with our Columnist, Helmut Sorge, he explains the challenges in African agriculture and discusses potential solutions. How can Africa reduce its dependence and improve agricultural sustainability to protect its populations? ... Listen
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| Fintech: Powering Inclusive Growth in Africa
From cryptocurrencies to blockchain to mobile money, financial technology (fintech) is revolutionizing the global economy. Fintech is making financial services more accessible, efficient, and personal. In her Issue Brief “Powering Inclusive Growth in Africa,” Aleksandra Gadzala discusses the impact and potential of fintech in Africa. How can fintech drive inclusive growth and transform financial services across the continent? ... Listen
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