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This ten-year Strategy will focus on two objectives to improve the quality of Africa’s growth: inclusive growth, and the transition to green growth.
The first and overarching objective is to achieve growth that is more inclusive, leading not just to equality of treatment and opportunity but to deep reductions in poverty and a correspondingly large increase in jobs.
Unlocking the continent’s great potential—and increasing its chances of reaping a demographic dividend—inclusive growth will bring prosperity by expanding the economic base across the barriers of age, gender and geography.
The Bank will invest in infrastructure that unlocks the potential of the private sector, championing gender equality and community participation. It will help improve skills for competitiveness, ensuring that those skills better match the opportunities and requirements of local job markets.
The second objective is to ensure that inclusive growth is sustainable, by helping Africa gradually transition to “green growth” that will protect livelihoods, improve water, energy and food security, promote the sustainable use of natural resources and spur innovation, job creation and economic development.
The Bank will support green growth by finding paths to development that ease pressure on natural assets, while better managing environmental, social and economic risks.
Priorities in reaching green growth include building resilience to climate shocks, providing sustainable infrastructure, creating ecosystem services and making efficient and sustainable use of natural resources (particularly water, which is central to growth but most affected by climate change).