The AfDB concluded its 2017 Annual Meetings on Thursday in Ahmedabad, India, on a high note of optimism generated by the Bank’s good balance sheet and the early successes of its High 5 priorities, especially in agriculture and energy.
The textile-clothing market is worth US $31 billion in Sub-Saharan Africa alone. The textile industry is still in its infancy on the continent. Fashion could generate US $15.5 million within 5 years, according to the AfDB. The prospects are promising, if we have the resources.
Building infrastructure is key to getting Africa off the ground. But we must also focus on a particular type of infrastructure: the grey matter of our children, and human capital affected by serious nutrition problems in many countries. Malnutrition, even undernutrition, still affects too many Africans.
In 2016, Africa as a whole maintained its position as the world’s second-fastest growing economies behind South Asia, according to data released during the Financial Presentation. The report said African economies would improve further in 2017 and 2018.
Build on African entrepreneurs to succeed in the continent's new industrial revolution. This is what emerges from the 2017 edition of the African Economic Outlook, released on 22 May in Ahmadabad, India, on the sidelines of the AfDB's Annual Meetings. This flagship publication, which annually reviews all 54 African countries, is a joint effort of the Bank, UNDP and OECD.