CIPE recently met with its African partners for an insightful discussion of the region’s priorities and possibilities. Here are some thoughts taken from that discussion.
- Take market reforms to the next level. African countries have experienced strong economic growth in recent years, aided by significant market reforms. These reforms need to go further to sustain growth and address recent developments in the global economy. Many Africans have been left behind by growth so far and not felt its benefits. Future reforms need to bring poor and marginalized Africans into the market economy and integrate them in supply chains that create added value.
- Change the roles of the state and improve state effectiveness. Too often states have been abused as sources of patronage and personal enrichment by corrupt means. Governance must be improved through increased transparency, regulatory reform, and transfer of economic functions to the private sector.
- Energize the private sector. African businesses need services and supportive policies in order for them to take up their roles in employment and wealth creation. The private sector itself can take initiative by collective action to address these needs. This means building the capacity of independent business associations to deliver services to their members and engage in policy advocacy. It also means voluntary efforts by the business community to raise standards and encourage responsible business practices.
Published Date: August 19, 2008