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Unveiling of the first AU, UN and OECD joint report on Africa’s need for diversification
The African Union's NEPAD Planning and Coordination Agency (NEPAD Agency), the United Nations Office of the Special Adviser on Africa (UN-OSAA) and the Organisation for Economic Co-operation and Development (OECD) released on the 11th October a joint study recommending further diversification of African economies.
According to the study titled, “Economic Diversification in Africa: A Review of Selected Countries”, an enhanced diversification would reduce African economies’ reliance on natural resource revenues and encourage sustainable growth in other strategic sectors such as telecommunications, agriculture and tourism.
“This report looks at how Africa can boost its economic growth and development by investing greater national and regional efforts in business climate reform”, says Dr. Ibrahim Assane Mayaki, the Chief Executive Officer of AU-NPCA. The study also aims to improve recognition of the increasingly important contribution of Africa to global economic growth.
