The 2019 Annual Meetings of the African Development Bank Group will be held from 11-14 June 2019, in Malabo, Republic of Equatorial Guinea. Find out more
Measuring the pulse of Economic Transformation in West Africa
West Africa is at the heart of Africa’s transformation. With a projected growth rate of 7.4 per cent in 2014, it is the fastest growing region in the continent. As many of its countries undergo a strong stabilization, emerge from conflict, or even rise to middle income status, the region begins to reap the fruits of its regional and global integration. A global demand for expert opinions and analysis is rising rapidly. Read More
On Sunday, March 8, the world celebrated International Women’s Day. As a lead up to the event, the African Development Bank dedicated an entire week to raising awareness on gender issues.
Coffee is a universal drink with considerable economic impact. It is the most traded agricultural product in the world in terms of volume, coming before wheat, and the second raw material, in value, after oil. World coffee consumption is measured in bags. Current consumption is 140 million bags and is expected to reach 175 million bags by 2020. In the meantime, we therefore need to produce an extra 35 million bags, most of which will be of robusta coffee.
2014 has been crucial to creating momentum for a climate change agenda. More than half a million people took to the streets for unified climate action at the New York People’s Climate March, while policy-makers concurrently discussed the challenge of a changing climate at the United Nations Climate Summit.
Despite positive economic growth rates experienced by almost all West African economies since 2005, they have not undergone the structural transformation needed to improve the quality of life of their people, as they are lacking diversification and depend on the exports of a few products.
The Ebola outbreak, which is ravaging West Africa, causing over 4,000 deaths, and has crossed the Atlantic infecting its first case in the United States and now Spain, is an immense tragedy. But it also serves as a reminder of the fundamental challenges of development in a weak institutional environment.