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
A previous post discussed some of the challenges Liberia is facing in the light of weaker economic growth and how it should focus its efforts on improving the business environment, increasing productivity and value-added in agriculture, and attracting investment in non-extractive sectors. A key part of this effort is to address Liberia’s severely inadequate energy and road infrastructure, which have been identified by various analyses as a critical binding constraint to private sector development and diversification, as well as public service delivery. As such, the government has placed strong emphasis on infrastructure development in its development agenda. This post discusses the country’s progress in addressing its infrastructure deficit.
An August 2014 blog post during the escalation of the Ebola Virus Disease (EVD) epidemic in Liberia considered how, beyond the health crisis, the outbreak was having a significant impact on Liberia’s economy. Two years down the line, the threat of the virus has receded, yet the economy is facing other challenges, most prominently the drop in commodity prices. The country is at a critical juncture where it should increase attention on enabling the private sector to drive inclusive growth. This post is the first of a short series dedicated to Liberia to discuss some of the issues involved in the process.
Extractive resources come with a heavy baggage and very high expectations – if history shows that abundance of natural resources does not necessarily improve a country’s citizens lives, announcements of new mineral riches often unleashes expectations of immediate gains for citizens. This is very much the dynamics triggered when, at the peak of the commodity prices cycle, new discoveries in a number of West African countries promised to deliver a game-changing boost to their economies.
Migrant remittances, namely the money migrants send to their countries of origin from their host countries, are increasingly significant for West Africa.
Whereas tourism is acknowledged as a driver of socio-economic development and growth in Africa, as evidenced in the last African Tourism Monitor, the 2015 edition of the annual report on competitiveness in travel and tourism, released in early May by the World Economic Forum (WEF), points out that West Africa lags behind when it comes to the travel sector. The ten West African countries assessed in the report all appear in the bottom half of the ranking. Cabo Verde, the top-ranked country from the region, ranks 86th out of 141. Guinea recorded the lowest score at 140th, securing the penultimate position in the overall ranking. The eight remaining West African countries are in the bottom quarter, among the least globally competitive countries in terms of tourism