The director of OECD development centre predicts a 3,4% economic growth for the African continent. The key driver of this growth is predicted to be internal demand, due to the unfavourable international situation which limits foreign direct investment and trade prospects.
The importance of industrialisation strategies is emphasised and there is a need to have such strategies connect different types of interventions (firms, infrastructure and skills) into one cohesive strategy. These need to complemented by entrepreneurship strategies.
The surge in internal demand creates new needs which can be answered by large firms and entrepreneurs. Added to this are the developments in technology (IoT and automation) – which make it is easier to start a business with limited investment. Is Africa positioned to take advantage of this growth opportunity?
