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 the occasion of World Food Day, the Sahel and West Africa Club Secretariat (SWAC/OECD), in collaboration with the Economic Community of West African States (ECOWAS), the West African Economic and Monetary Union (UEMOA) and the Permanent Inter-State Committee for Drought Control in the Sahel (CILSS), is launching a film dedicated to the Food Crisis Prevention Network (RPCA). The objective is to raise awareness about the success of the Network, which for 30 years has been engaged in the fight against food and nutrition insecurity in the Sahel and West Africa.
Several countries in West Africa have established ambitious development programs that aim for strong and sustained growth that significantly reduces poverty. In order to finance these programs, countries are increasingly moving towards low-concessional or non-concessional funds, such as securities issued on international financial markets.
Migrant remittances, namely the money migrants send to their countries of origin from their host countries, are increasingly significant for West Africa.
Arriving in Benin, you will certainly notice all the cans and fuel bottles sold on every street corner. This fuel, 30% cheaper than its counterpart in official gas stations, represents more than 80% of the fuel market in the country. This smuggled gas called "kpayo" (literally "not original" in the local Goun language) is imported illegally from neighbouring Nigeria, where fuel is heavily subsidized.
Like most African economies, Nigeria faces the challenge of limited economic transformation and diversification. This is evident from the country’s specialization in less dynamic and low value added domestic activities and trading in the global system. The high share of manufacturing imports as a percentage of total merchandise imports in 2012 (71%) and the very low share of manufacturing exports as a percentage of total exports in the same year (2.9%) testify to the weak state of global value chains (GVC) in Nigeria. Furthermore, the total value addition in most sectors has been relatively weak (see Table 1). While the recently rebased GDP has shown mild economic diversification away from agriculture toward services, the economy continues to tilt in favour of the natural resources sector.