The Africa Competitiveness Report 2011, a joint publication by the African Development Bank and World Bank, was launched during the World Economic Forum for Africa between 4 and 6 May 2011.
Now in its third bi-annual edition, the Report comes out at a time when Africa’s recovery from the global economic crisis has been faster than in other parts of the world.
In fact, Africa witnessed an economic resurgence between 2001 and 2010. Gross Domestic Product across the continent averaged 5.2% annually (a rate also forecast for 2011). That figure outstripped the global average of 4.2%.
The Report focuses on harnessing Africa’s underutilized resources. These comprise skills; female entrepreneurship, and natural and cultural resources.
The Report also contains in-depth assessments of the state of competitiveness, the impact of foreign direct investment on the continent, and the trade performance of the region. It also outlines the potential for increased productivity growth in agriculture and agribusiness.
The final sections include detailed competitiveness profiles for several African countries.
Looking to the future and to further growth through glob al competitiveness, the Report notes the need for Africa to create the conditions for a vibrant private sector.
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