Africa’s Economic Growth Slowdown Calls for Rethink

Published on 27th October 2015

Economic slowdown in China is sending shockwaves to African countries that have enjoyed a decade of over 5% growth levels. Africa was relatively shielded from the direct impact of the 2008 Economic Recession due to its low level financial integration. The same might not be the case especially to many African countries that rely on commodity exports, especially to China. As China works out to rebalance it industrial operations, the urgency must be placed on Africa's side to seek diversification in their productivity and export orientation.

The lowest hanging fruit to spur growth in Africa has always been natural resources. Time has come for the continent to rethink its model. Africa must diversify its export portfolio and invest in skill development for its youth to spur internal production capabilities. It also crucial that African countries clean up internal systems that continuously bleed the continent of its vital revenues through corruption and inefficient management of public funds.

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