African Development Bank report says only about a third of countries on the continent achieved inclusive growth in recent years
A shanty town in Pietermaritzburg, KwaZulu-Natal. Picture: SUNDAY TIMES/JACKIE CLAUSEN
“Ending extreme poverty by 2030 remains a challenge in most African countries. Countries with active inequality-reducing policies have better prospects of reducing extreme poverty more by 2030. AfDB president Akinwumi Adesina said to make Africa’s growth more inclusive, countries need to deepen structural reforms to diversify their productive base and build resilience to extreme weather conditions by adopting climate-smart agricultural techniques. They must also create more fiscal spaces to expand social safety nets and remove obstacles to the movement of workers to more productive opportunities within and across countries.
Leading the way are six countries among the world’s 10 fastest growing economies: Rwanda, Ethiopia, Ivory Coast, Ghana, Tanzania and Benin. In Southern Africa, growth slowed from 1.2% in 2018 to 0.7% in 2019, dragged down by cyclones Idai and Kenneth and the devastation of infrastructure and agriculture in Malawi, Mozambique, and Zambia combined with weak growth in SA, Zimbabwe, Angola and Namibia.
According to the AfDB report, while the continent’s economy as a whole is growing steadily, growth has not been inclusive — as reflected in persistently high inequality.
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