Economic and financial governance

The Strategy for Economic Governance in Africa (SEGA) 2021–25 is a timely response by the Bank to the evolving economic landscape in Africa that seeks to reinforce the institutions, processes, policies, behaviors, and regulatory settings required to manage the economies of African countries.

The strategy involves boosting public financial management, promoting transparency and accountability in public service delivery, stimulating government effectiveness, building business enabling environments, fighting corruption, and enhancing the institutional frameworks required to efficiently manage the economy at the national and subnational levels. The focus of SEGA is economic governance, not necessarily political governance, which lies outside the remit of the Bank.

The Strategy for Economic Governance in Africa has three pillars:

• i. Public sector effectiveness at the national and sub-national levels, which seeks to ensure that African countries can optimally mobilize, utilize, and control their public resources for effective service delivery.

• ii. Governance for structural transformation, under which the Bank will build public institutions to foster structural change on the continent through higher productivity and ascent up the value chain in economic activities led by the private sector.

• iii. Inclusive governance and accountability, designed to foster the ability of African countries to curb corruption, enhance stakeholder participation, and improve transparency in the public sector.

Four enablers—political economy analysis, policy research, strengthened data and statistical capability, and transformational leadership—reinforce implementation of all interventions.