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Africa 2050 Realizing the Continent’s Full Potential

Africa 2050 Realizing the Continent’s Full Potential

The Africa 2050 study, conducted by the emerging Markets Forum, was commissioned by the 5th Ministerial Join Annual Meeting of the economic Commission for Africa (eCA) and the African Union (AU) in Addis Ababa in March 2012

Africa is at a critical turning point—what it and its leaders do now will determine whether the rising aspirations of Africans are met or crushed.

Africa 2050 offers a vision of what could be—an Africa that meets the aspirations of its people and is catching up with the rest of the world in living standards. In such a scenario average per capita income would increase six-fold to over US$17,000, moving from one quarter of the global average to one half. An additional 1.4 billion Africans would join the middle-class. The number of poor would be reduced ten-fold to fewer than 50 million. Africa’s share of global GDP would tripleto 9 percent. For people, the biggest change would be better, less vulnerable jobs with higher productivity. For economies, the biggest change would be dramatic productivity increases driven by private sector investment, diversification and more competition. For the continent, the biggest change would be better integrated sub-regions and relations with the world based on trade and investment rather than aid. This vision is possible but certainly not guaranteed—just one of several possible scenarios. Complacency and inadequate political resolve are the biggest threats to realizing it.

Publié le 22 mai 2013