Africa’s Inclusive Growth Potential

Euphoria abounds in much of Africa nowadays, and rightly so, as seven of the world’s ten fastest-growing countries are there. But, amid all the good news, there is a risk of overlooking the bad: Growth has not been inclusive; the rising tide has left many boats behind.

DUBAI – Euphoria abounds in much of Africa nowadays, and rightly so. Seven of the world’s ten fastest-growing countries are there. Recognizing the potential and importance of the continent, US President Barack Obama is convening a US-Africa Leaders Summit on August 4-6.

But, amid all of the good news, there is a risk of overlooking the bad. According to a recent report on the UN Millennium Development Goals, the number of people in Sub-Saharan Africa who live in extreme poverty increased by more than 40%, to 414 million, from 1990 to 2010. The region still accounts for four out of five deaths of children under the age of five.

Obviously, growth has not been inclusive; the rising tide has left many boats behind. This is simply unsustainable.

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