Africa's Development Dynamics 2022
Regional Value Chains for a Sustainable Recovery
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Africa’s Development Dynamics uses lessons from Central, East, North, Southern and West Africa to develop policy recommendations and share good practices. Drawing on the most recent statistics, the analysis of development dynamics aims to assist African leaders in reaching the targets of the African Union’s Agenda 2063 at all levels: continental, regional, national and local.
The 2022 edition explores how developing regional value chains can help African countries rebound from the socio-economic shocks of the COVID-19 pandemic and accelerate productive transformation. It targets policy areas where private and public actors can support regional value chains when operationalising the African Continental Free Trade Area (AfCFTA). African firms can harness digital innovations to reduce production costs, and governments can design policies for skills development, public procurement and foreign investment to strengthen industrial linkages. Two continental chapters examine related African initiatives and global trends. Five chapters tailor policy recommendations to specific value chains in each region.
Africa’s Development Dynamics feeds into a policy debate between governments, citizens, entrepreneurs and researchers. It proposes a new collaboration between countries and regions, focusing on mutual learning and the preservation of common goods. This report results from a partnership between the African Union Commission and the OECD Development Centre.
Also available in: French, Portuguese
Overview
The COVID-19 pandemic is setting back Africa’s economic convergence with the world economy. African economic growth will reach 3.9% in 2022, one percentage point lower than the growth rate for the rest of the world, which stands at 4.9%. In 2022, Africa’s gross domestic product (GDP) as a share of the world GDP is expected to fall to 4.7%, the lowest level since 2002. This reverses the catching-up process that had been underway: between 2000 and 2010, Africa’s global economic weight steadily increased from 4.7% to 5.3% of the world’s output (). Africa will not regain its pre-COVID share of the world GDP in a foreseeable future. COVID-19 has also reversed progress in reducing poverty in Africa, pushing at least an additional 29 million people into extreme poverty (Mahler et al., 2021).
Also available in: French, Portuguese
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