Private Sector Development
On the sidelines of a high-level forum on Higher Education for Science, Technology and Innovation in Africa, the World Bank's Makhtar Diop, Vice President for its Africa Region, says we must increase the numbers of students in Africa graduating with degrees in science, technology and mathematics.
Sub-Saharan Africa is home to the world’s highest female entrepreneurial activity, according to the Global Entrepreneurship Monitor Women’s Report. Approximately 27% of African women are engaged in some form of entrepreneurial venture. Among these women is Kate Mahugu, cofounder of Shopsoko.com.
While global economic growth has been sluggish in recent years, Africa has been growing. We’ve seen a resurgence of traditional sectors such as agriculture and the extractive industries as well as promising new ones such as ICT. Not surprisingly, these booming sectors need highly skilled technicians, engineers, medical workers, agricultural scientists and researchers. Yet large numbers of African graduates remain unemployed as their skills are often not in line with industry requirements.
At the recent Congressional Black Caucus (CBC) Legislative week held in Washington DC, African Diaspora was the focus. Economic development—supporting Africa’s priorities in the areas of jobs, education, gender, health, youth—was one of the main threads that ran through the week-long discussions.
At the session “Africa Rising: A Continent of Opportunity”, Makhtar Diop, the World Bank’s Vice President for Africa, was one of three panelists discussing “Africa’s Growing Economies.” Africa’s average growth has exceeded five percent per year and accelerated to six percent before the global economic crisis. Performance of the 22 non-oil exporting countries averaged higher than four percent annual growth for the decade between 1998 and 2008, all of which he attributed mainly to better macroeconomic policies.
On June 5, the World Bank will host an event focused on the ongoing relationship between Brazil and countries in Sub-Saharan Africa. The event will be web streamed. Panelists will discuss Brazil’s experiences in the areas of agriculture, social protection and vocational training, and ways in which African countries can benefit.
Ahead of the event, we’re seeking your questions and comments. Please read the recently launched report Bridging the Atlantic: Brazil and Sub-Saharan Africa Partnering for Growth. The report highlights these key points:
I met Roselynd Laubhouet in 2004 when, as a recent graduate, she accepted an assignment as a Junior Professional Associate with the World Bank's Africa Region in Washington, D.C. From day one, it was evident that Roselynd was special. Being an entrepreneur at heart, she was filled with dreams, aspirations, and a passion for her home country of Senegal (and her continent) that set her apart.
When Roselynd and I reconnected in Abidjan last December, eight years after our first meeting, I was pleasantly surprised to learn that not only had she moved home to Senegal, but she had also started a successful international business. The journey from bureaucrat to entrepreneur was not easy, but it was clear that--having returned home--Roselynd was realizing her dreams.
I was curious to learn the secrets of her success, to understand the challenges facing returnees, and gather any advice for other Africans in the Diaspora considering a return. Roselynd was kind enough to share her experiences with me in the hopes that other young women in the Diaspora might be inspired to follow in her footsteps.
Sub-Saharan Africa is still largely in the dark when it comes to access to electricity. Fewer than three out of 10 of the region’s people have grid-based access to electricity which is essential for education, agriculture, healthcare and business, and where it has been installed, it is all too often patchy, costly and unreliable.
In my previous blog entry, I mentioned the expected growing engagement between Brazil and Sub-Saharan African countries in 2012, to exchange knowledge and further economic and social development.
- Sub-Saharan Africa
- south-south partnerships
- slave trade
- Private Sector Development
- Nutrition and Population
- Latin America & Caribbean
- latin america
- international trade
- Information and Communication Technologies
- Agriculture and Rural Development
Stevan Lee, Senior World Bank Economist, is co-author of this post.
Attracted by the prospects of large unexploited natural gas reserves in the south of Tanzania, big players are in town. The British Gas Group has publicly announced that it may invest over US$35 billion in the next 25 years – 1.5 times Tanzania’s current GDP. Policymakers and donors are jockeying to position themselves and understand what is at stake.