Africa is experiencing a never-before-seen economic and political transformation. Five of the world’s 10 fastest-growing economies are located here.
While there are many reasons to celebrate the improved economic performance, daunting challenges remain. Foremost among them are widening economic and social inequalities that have resulted from non-inclusive growth. Africa’s poverty rates are still the highest in the world.
Since the end of the colonial era, the African Development Bank (AfDB) — which is essentially our continental equivalent to the World Bank — has led the charge in taking Africa forward. It is the AfDB’s job to help African economies grow as an integrated economic bloc. Beyond this, though, the AfDB also has a responsibility to achieve real and sustainable development that benefits all Africans, to create opportunities for Africa’s rapidly growing youth population, and to lift people out of poverty.