Presentation of the report "African Economic Outlook 2017". Business Initiative and Industrialization

22 June 2017 in Madrid
Presentación del informe 'Perspectivas Económicas de África 2017'. Iniciativa empresarial e industrialización. 22 de junio de 2017 en Madrid

The potential of African entrepreneurs must be freed up to accelerate the continent’s industrial transformation, according to the African Economic Outlook 2017 (AEO), the annual report in which the African Development Bank (AfDB), the OECD Development Centre, UNDP and a network of African research centres and groups of experts participate, and which Casa África presents each year in Spain. This year, the presentation will take place on 22 June at 12 midday in the CEOE headquarters. (Calle Diego de León, number 50, Madrid)

This report, which was released at the recent 52nd AfDB Assembly, emphasizes that African governments should rely more on the continent’s businesspeople to industrialize their economies.

The industrialization of Africa will not resemble that seen in other regions of the world. Firstly, due to the variety of profiles of the 54 countries which make up Africa, each of them will take a different trajectory. Then, this industrialization will not only be based on the manufacturing sector, even though it does represent 11% of the continent’s GDP, but 21st century industrial policies can target sectors with high growth potential, such as the food and agriculture industry or value added services.

In 2017 and 2018, Africa should benefit from the recovery of the raw material channels that began in late 2016; the increase in private demand, including domestic markets; sound management of macroeconomic policies, currently implemented in many countries; a globally favourable business environment with a positive trend; and a more diversified economic structure, particularly in favour of services and light industry.

In short, despite the slowdown in economic activity in 2016, the outlook for African growth is positive, with notable resilience and strong domestic demand. African growth is no longer so dependent on raw materials and is increasingly benefiting from the improved business environment and macroeconomic governance. In addition, significant economic diversification has greatly improved the continent’s ability to withstand external shocks.

We will discuss all these perspectives, data and improvements on 22 June at 12 midday in the headquarters of CEOE (Calle Diego de León, number 50, Madrid)

At the opening will be: Narciso Casado, director of the Cabinet of Presidency, International Relations and Institutional Relations of the CEOE; Cristina Serrano, director general of International Economic Relations of the Spanish Ministry of Foreign Affairs and Cooperation; and Luis Padrón, director general of Casa África.

The Economic Outlook for Africa 2017 will be presented by Arthur Minsat, acting chief of Africa Unit at OECD Development Centre and economist charged of AEO report. .

Attendance at the event is free, but confirmation of attendance is required by sending an email to cortiz@ceoe.es or by calling 915 663 448.

The languages ​​used will be English and Spanish and there will be no interpretation service during the presentation.

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The event is organized within the framework of the CONFIAFRICA project, co-financed by the European Union through the European Regional Development Fund (ERDF) under the INTERREG MAC cooperation programme (Azores, Madeira and the Canary Islands).
 

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