Africa through an Economic Lens

A broad vision for economic progress in Africa

A more peaceful and prosperous Africa is in everyone’s interest. Such an Africa would translate into more trade and investment, more jobs, and more security for all. Africa is now at a crossroads and the right path, if taken, could lead the continent closer to reaching its growth and human development objectives. As one banker recently said, it is no longer a matter of “Why Africa?” but “How Africa?”

Using economic policy analysis, this book examines the vision for achieving this idea of “How Africa?” through the cooperative actions of the African Union, Africa’s private sector, civil society, women, and youth. It looks at the continent’s progress in delivering on this vision, specifically its ability and progress in maintaining momentum, sharing the benefits of growth, and financing its development. The book also looks at risks and opportunities that are part of this vision—such as population growth, urbanization, and technological changes, and the role that countries such as the United States and China, as well as institutional and private sector partners, can play in achieving Africa’s vision.

This book offers a vision of Africa that puts together all the pieces of the puzzle to help inform policymakers from all disciplines. Policymakers and political commentators in the United States and elsewhere typically look at Africa through discrete lenses that focus on specific elements of what is happening on the continent, from security concerns to trade disputes to humanitarian crises. This tendency to focus narrowly, however, gives a fragmented and incomplete vision of the continent. A broader economic lens helps refocus the vision of Africa and is necessary if one wants to have a meaningful impact on policies to achieve sustainable and inclusive economic growth.

The book takes care to understand and study the vision that Africans themselves have of their continent. It is also forward looking in its focus on trends and risks such as population growth, rapid urbanization, and technological change.

Amadou Sy is a nonresident senior fellow at the Brookings Institution and an adviser at the International Monetary Fund's Africa Department. He is the former director of the Brookings Africa Growth Initiative and is a CFA charter holder and a financial risk manager.