The publication of this year’s Africa Competitiveness Report comes against the backdrop of the most significant global economic crisis in generations. In Africa, where impressive growth rates and increasing levels of FDI supported an economic resurgence over the past decade, the recent global economic turmoil has raised questions about the sustainability of its growth performance over the medium run.
In this context, the goal of the Report is to highlight the areas most urgently requiring policy action and
investment to ensure that Africa can best ride out this crisis and continue to grow sustainably into the future.
This is the second report on the region’s business environment to leverage the knowledge and expertise of the African Development Bank, the World Bank, and the World Economic Forum, presenting a unified vision of the policy challenges that countries on the continent should address as a foundation for sustainable growth and prosperity.
Much has been done in recent years to improve the business and economic environment in Africa. Continued policy and institutional reform remain central to ensuring that African countries continue on a higher growth trajectory. In this context, the Report examines many aspects of Africa’s business environment, including assessments of the competitiveness and costs of doing business on the continent, timely analyses of the depth and sophistication of the region’s financial markets, the effective measures that the relatively smaller economies on the continent have introduced to promote their
competitiveness, and the extent to which African countries have put into place factors facilitating the free flow of trade over their borders.
Detailed competitiveness and investment climate profiles, which provide a comprehensive summary of the drivers of the competitiveness environment in each of the countries included in the Report, make up the final section. The Africa Competitiveness Report 2009 is an invaluable tool for policymakers, business strategists, and other key stakeholders, as well as essential reading for all those with an interest in the region.
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