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Despite low commodity prices, growth prospects in low-income countries remain robust

Gerard Kambou's picture
Large agricultural sectors, remittances, and public investment have cushioned the impact of sharply weaker terms of trade in commodity-exporting low-income countries (LICs). Growth in LICs was flat in 2014, but is expected to pick up in 2015 and remain robust during 2016–17.  Declining commodity prices, however, are likely to increasingly put pressure on fiscal and current account balances of LICs that rely heavily on exports of energy and metals. Many commodity-exporting LICs have limited buffers to absorb this deterioration.

What Open Data can do for Africa’s growing population

Luda Bujoreanu's picture

Back in June I rushed to take a front seat at one of the World Bank conference rooms to hear Dr. Hans Rosling speak. We had met years ago in Moldova, and just like last time, his talk was sharp, funny and full of “aha” moments. 

He unveiled what the future holds: the global population will almost double by 2100, with Africa — a continent where I have worked for the last five years — leading in explosive population growth between 2015 and 2050.

Today, African governments struggle to deliver basic services to their people  including and particularly to the very poor and marginalized  across sectors, most notably health, sanitation, and education. Food security is likewise a crucial issue for the region, as are so many others: environmental sustainability, disaster risk management, economic development and others.  

Part of the #Youthbiz movement? Share your story!

Valerie Lorena's picture

Also available in: Français | العربية

A boat trip from Port Elizabeth to Kingstown, in the Caribbean country of Saint Vincent and the Grenadines, is a one-hour trip that locals take several times a day. It was during one of these journeys that the boat of Kamara Jerome, a young Vincentian fisherman, ran out of gas six miles from Bequia City in what is termed locally as the "Bequia Channel." While waiting for help with strong wind gusts and the sun on his head, the idea of developing a boat that would run with wind and solar energy was born. Soon after, the idea became a prototype; a boat using green technology was on the water making 20-year-old Jerome a winner of international innovation competitions and a role model to other Caribbean youth. 
In Mexico, young engineer Daniel Gomez runs a multimillion bio-diesel company originally conceived as a research project for his high school chemistry class. Gomez and his partners - Guillermo Colunga, Antonio Lopez, and Mauricio Pareja - founded SOLBEN (Solutions in bio-energy in Spanish) in their early twenties. 
Although Daniel and Kamara have different educational backgrounds, they do share one important skill, the ability to identify a problem, develop an innovative solution, and take it to the market. In other words, being an entrepreneur, an alternative to be economically active, that seems to work and not only for a few.

What drives local food prices? Is it world prices? Weather? Seasonality? Policies? Fuel prices? Other costs?

John Baffes's picture
The question has been asked often in the context of the post-2005 commodity price boom. In a recently published working paper, What drives local food prices? Evidence from the Tanzanian maize market, we examine the factors driving movements of prices in 18 major regional maize markets in Tanzania.

Dispatch from Ghana: Agriculture benefits more than just farmers

Abdoulaye Toure's picture
Julius Dorsese harvests sweet potato at his farm in Ghana.
Julius Dorsese harvests sweet potato in Ghana. Materials and advice from the World Bank-funded West Africa Agriculture Productivity Program (WAAPP) have helped Dorsese grow his farm.

What happens when you help a farmer succeed?

You create opportunities, not just for the farmer, but also for his family, often improving their financial standing, health and educational prospects.

But the impact goes much further than that. When you give a farmer tools to succeed, you can help grow prosperity in his community, and build a food system that can feed everyone, every day, everywhere—nutritiously and sustainably. 

This is the story in West Africa, where the World Bank-funded West Africa Agriculture Productivity Program (WAAPP) has helped 13 countries generate, improve and disseminate agriculture technology to pave the way for a food-secure future for Africa.  Already, WAAPP has developed 116 technologies that have been adopted by and directly benefited up to 2.5 million people across West Africa—or 17 million people in total, if you count both direct and indirect beneficiaries. WAAPP has also improved productivity on up to 2.74 million hectares of farmland and is estimated to have increased food production in West Africa by more than 3 million tons.

Three ways to develop a global partnership against youth unemployment

Andrew Devenport's picture
Susan Ogwengo lives in Kibera, in Nairobi, Kenya. Two years ago she started up a children’s day care centre which has grown into a successful business, employing others and enabling parents to go to work safe in the knowledge that their children were well looked after.
But she didn’t do it on her own.

Tourism ecosystems: A way to think about challenges and solutions to tourism development

Shaun Mann's picture

Ecosystem: A complex of living organisms, their physical environment, and all their interrelationships in a particular unit of space.
Tourism: A social, cultural and economic phenomenon that entails the movement of people to countries or places outside their usual environment for personal, business or professional purposes.

I was part of a tourism ecosystem, once, when I built and operated a small lodge on the banks of the Nile in Uganda. While I was living in a tent in the bush building the lodge, life was simple: My little ecosystem was the land around the lodge and the tribulations of fending off monkeys and snakes by day and leopards, hippos, elephants and mosquitoes at night. The sun and rain beat down hard, and tools and workers broke down regularly. The generator was a particular pain in the neck.

Apart from supplies coming in, I was not really connected to the outside world. Money ran out for awhile and I had to rush to Kampala and persuade the bank give me a bigger overdraft (at 26 percent interest – thieves!).
Once the lodge was finished, I had to join another ecosystem: the world of registering the company, getting licenses, drawing up employment contracts, getting a bank overdraft, getting a tax ID number – all the elements of the enabling environment for me to do business. Then I had to join another one: I needed bums on beds, and I had to link my wonderful product to local markets; I had to develop promotional materials and packages; I had to interact and contract with tour operators and local travel agents to supply me business; I needed market access. 

Nile Safari Camp: home for two years

Then, guess what? My business plan wasn’t panning out. I didn’t get the occupancies or the rates that I projected from the local market. I had to step into yet another ecosystem: the world of international long-haul travel. I needed more and better-paying customers. I had to understand how the big international tour operators sold their product, what they were looking for in new product and how they contracted. I had to join another ecosystem to make that happen. Turns out my little product wasn’t enough to attract international customers on its own, I had to team up with other lodges and offer a fuller package; we had to cluster our products. I had to diversify and innovate and find ways to add value to my accommodation offer – birdwatching, fishing, guided walks, weddings and honeymoons, meetings and workshops. . . . Well, there are whole ecosystems around each of those market segments. You need to understand them before you can do business with them.        

Africa’s Hidden Underemployment Sink

Ellen McCullough's picture

Labor productivity in Sub-Saharan Africa has been garnering attention recently. Development economists focus on labor productivity because it tends to be strongly associated with overall well-being measures, especially for the poor, who are reliably endowed with time, but often little else in the way of productive assets.
Cross-sector gaps in labor productivity are key indicators of structural change, which is the economy-wide process by which labor shifts from low-productivity industries such as agriculture, to those that are higher-productivity, such as industry and services. This process underpins development and is premised on large cross-sector gaps in productivity. Economists expect these gaps to be quite large in the poorest countries, and to get smaller as labor shifts out of agriculture. Recent evidence suggests these forces are indeed at work in Sub-Saharan Africa.

Ebola response: Looking back on an unprecedented year

Shunsuke Mabuchi's picture
Phot credit: Dominic Chavez/World Bank

Exactly one year ago, I received an unexpected call from my manager just as I was finishing a week of paternity leave following the birth of my daughter.   She asked me to lead an “absolutely urgent” project and said she was cutting her summer break short to return to the office.    That project was on Ebola response. We had monitored Ebola cases in Guinea, Liberia and Sierra Leone over the previous months with growing concern, but now the World Bank was mobilizing its first emergency funding commitment to help the three affected countries contain the disease’s spread and help communities cope with the economic fallout.