Can WEF move beyond spin and deal with Africa’s dire economic conditions?
Set against the backdrop of low growth, dire unemployment figures, and a huge infrastructure deficit, the theme of this year’s African World Economic Forum (WEF) is "inclusive and sustainable growth". This is a familiar subject for policy makers. On both the regional and global stage it is natural to speak in terms of market integration among groupings of nations to stimulate economic growth. Reducing bottlenecks to trade often serves as the focal point, with free trade agreements (FTAs) typically the formal means of implementing these initiatives. The idea behind all of this is that connected markets provide a larger base of customers into which companies can sell their products and services. And that, for their part, customers benefit from greater product diversity and value. This in turn creates a virtuous cycle in which a growing economy makes investment in the region more bankable. With greater access to funding, investment in needed capital projects can be accelerated, in turn...
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