Good governance making Africa key growth point for global recovery – AfDB
With an average growth rate of 6.6% last year, Africa is now seen as an important place to help in the global recovery process.
According to the African Development Bank (AfDB), the continent is experiencing significant transformation and robust recovery from the global recession.
Speaking at a Consultative Governance Meeting organized by the AfDB in Tunisia early this week, Mr Aly Abou-Sabaa, a Vice President at AfDB in charge of Agriculture, Water, Human Development and Governance, said “Africa is experiencing significant transformation and robust recovery from the global recession. Africa’s GDP growth rate has averaged 6.6% in 2012 compared with 3.1% in 2009.”
Mr Abou-Sabaa acknowledged the fact that good governance is contributing to Africa’s rapid growth.
“We also all know today that better governance is contributing to this development. The evidence is quite strong that many African countries are now embracing good governance,” he told the forum participants made up policy makers, civil societies and the private sector.
The participants were to make inputs into AfDB’s newly drafted Governance Strategic Framework and Action Plan (GAP II).
According to the 2013 Annual Development Effectiveness Review, a report recently published by the AfDB, about 70% of African countries have improved their overall quality of governance in recent years.
“Most of the countries are increasing their capacity to deliver sustainable economic opportunities and human development,” it said.
More African countries, Mr Abou-Sabaa says are now experiencing peaceful transfer of power through democratic elections.
“These are concrete evidences of improved governance on the continent,” he added.
Highlighting the AfDB’s GAP II, Mr Abou-Sabaa said the new strategy will build on the achievements of GAP I in the two core areas of public financial management and business enabling environment.
The GAP I which ended in 2012, provided the overall direction for the Bank’s governance work in Africa since 2008 at the country, sector and regional level.
The volume of AfDB’s governance lending and grant operations during 2008-2012 amounted to about $ 6.3 billion, of which Programme Based Operations accounted for 95% and Institutional Support Projects for 5%.
Officials said these operations contributed to improvements in governance indicators at the outcome level such as Public Expenditure and Financial Accountability Framework, Doing Business and other ratings.
By Ekow Quandzie back from Tunis, Tunisia