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The Myth of Africa's Economic Miracle
By Kofi Annan*
Africa is doing better than ever economically, but many regular people remain desperately poor. Kofi Annan on how Africans are being excluded from their continent’s economic miracle—and how to end the crisis.
This is an important year for Africa. The World Cup is putting the continent at the center of global attention. With Africa’s strengths and frailties under greater international scrutiny than ever before, what will the story be?After major difficulties in the wake of the global financial crisis, African economies are recovering and proving their resilience, in contrast to gloominess elsewhere in the world. The African Development Bank and IMF foresee GDP growth rates of around 5 percent by the end of the year.
Africa’s progress should be measured not just in GDP but by the benefits that economic growth brings to all of Africa’s people.
Trade is growing too, both within Africa and with partners, including the global South. Africa-China trade has multiplied more than tenfold in the last decade. Barely a week goes by without reports of the discovery of more oil, gas, precious minerals, and other resources on the continent.
Climate change is drawing attention to the vast potential of its renewable energy supplies, including hydro, thermal, wind, and solar power. Business activity is increasing.
In short, Africa’s stock is rising, as highlighted by the Africa Progress Report 2010 released today, Africa Day. But the report also asks some difficult questions.
Given our continent’s wealth, why are so many people still trapped in poverty?
Why is progress on the Millennium Development Goals so slow and uneven? Why are so many women marginalized and disenfranchised? Why is inequality increasing? And why so much violence and insecurity?
The good news is that access to basic services such as energy, clean water, healthcare, and education has improved in many parts of the continent. But these basics are still denied to hundreds of millions of women, men, and children. Why?
In trying to provide the answers to these difficult questions, one must be wary of generalizations. Africa is not homogenous; it is raucously diverse. But its nations are linked by common challenges hampering human development and equitable growth: weak governance and insufficient investment in public goods and services, including infrastructure, affordable energy, health, education, and agricultural productivity.Over the last decade, we have learned a great deal about what is needed. Ingredients include determined political leadership to set and drive plans for equitable growth and poverty reduction. Technical, management, and institutional capacity are vital if policies are to be implemented. Good governance, the rule of law, and systems of accountability are essential to ensure that resources are subject to public scrutiny and used effectively and efficiently.
* Mr Annan a former United Nations Secretary General currently serves as Chair of the Africa Progress Panel. The 2010 Africa Progress Report can be viewed online at www.africaprogresspanel.org
