Africa 2015 - Press Conference Launch of the Africa Competitiveness Report 2015

TL;DR

Africa's competitiveness is stagnant or declining, particularly in terms of productivity, but there are opportunities for improvement in sectors such as agriculture, services, and global value chains.

Transcript

well good afternoon ladies and gentlemen thank you for joining us here and welcome to the first post lunch media briefing of the world economic Forum on Africa 2015 welcome also to our audience watching this live online we forum.org now the purpose of this press conference is a a subject which is synonymous with the work of the Forum it's also very... Read More

Key Insights

• 🇨🇫 Diversification is crucial for African economies to improve competitiveness and achieve sustainable growth.
• 🎓 Education, infrastructure, and institutions are the basic requirements for improving competitiveness in all sectors.
• 💗 The services sector is growing rapidly but needs reforms to enhance productivity and become a dynamic export sector.
• 🌐 Global value chains offer opportunities for African countries to engage in production processes with low initial investment and access to global markets.
• 🤩 Research and development, irrigation, and better organization of smallholder farmers are key to improving agricultural productivity.
• 😘 Despite high economic growth rates, competitiveness remains low, indicating the need to focus on sustainable productivity improvement.
• 🎭 Some African countries are performing well in certain sectors, but overall progress is needed to improve competitiveness in the region.
• 👋 Data and evidence-based policymaking are essential for advising good policies and strategic planning for competitiveness.

Questions & Answers

Q: How is competitiveness measured in the Africa Competitiveness Report?

Competitiveness is equated with productivity, which is determined by various factors such as institutions, infrastructure, education, and market efficiencies.

Q: What are the key findings about agriculture in Africa?

Agriculture remains a mainstay of many African economies but is facing stagnation and low productivity. The report emphasizes the need for information technology, rural infrastructure, and integration into value chains to improve the sector.

Q: How can the services sector contribute to Africa's competitiveness?

The services sector is growing rapidly in Africa but is largely dominated by low productivity areas such as personal and government services. Reforms are needed to create a more competitive services sector that can contribute to poverty reduction and employment opportunities.

Q: What role do global value chains play in Africa's competitiveness?

Global value chains offer opportunities for African countries to better integrate into the global economy by providing access to capital, technology, and global markets. Policies related to trade, investment, infrastructure, and governance are important for effective integration.

Summary & Key Takeaways

• The Africa Competitiveness Report is a joint effort by the World Economic Forum, African Development Bank, World Bank, and OECD to analyze Africa's competitiveness and identify areas for improvement.

• Productivity in Africa is low, with stagnating or declining competitiveness in many sectors, partly due to weaknesses in institutions, infrastructure, and education.

• The report highlights the need to improve agriculture, services, and global value chains to drive competitiveness in the region.