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Vincent Palmade World Bank Africa Open for Business.

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Presentation on theme: "Vincent Palmade World Bank Africa Open for Business."— Presentation transcript:

1 Vincent Palmade World Bank Africa Open for Business

2 Africa as the next growth pole? 2 Recovery from crisis: Projected GDP growth

3 Source: Africa Action Plan Growth has been widespread

4 Primary school enrollment rates Population living under $1.25/day Child mortality ratesMaternal mortality ratio Progress in Human Development in Africa

5 Source: Laeven and Valencia (2010) Africa has come a long way in terms of improving financial stability...

6 WORLD BANKS DOING BUSINESS RANKINGS 2011 China (79) Zambia (76) Namibia (69) Ghana (67) Rwanda (58) Botswana (52) South Africa (34) Germany (22) Malaysia (21) Mauritius (20) Singapore (1) Source: Doing Business 2011 Rwanda was the worlds top doing business reformer in 2009 SSA was the most active among all regions in enacting reforms aimed at facilitating start-ups and registering property in 2010 SSA had some of the most comprehensive investor protection reforms e.g. Botswana, Mozambique, Rwanda, Sierra Leone, Swaziland, Tanzania Business climate is improving across the continent

7 Dynamic and Transformative Private Sector

8 5 game-changers New heavy-hitting investors offer critical mass Brazil, China, Brazil; private investors, foundations 1 2 Regionalization is creating new large- scale markets Intra-regional trade growing; new regional common markets Greater macro stability and increased voice makes Africa more attractive for investors Democratic elections gaining ground; conflicts steadily declining 3 Spread and growth of ICT offer significant productivity gains Worlds fastest mobile phone penetration 4 Climate change creates opportunities for a green economy Africa has low carbon legacy; chance for green leadership 5

9 Mining resources could finance power and transport infrastructure Urban development to fuel economic transformation, not slums Africa to become the worlds food basket 75% of cultivable land unused ICT to play a transformative role (remote services, e-government) Wages five times lower than in China – manufacturing could come Unique cultural and natural tourism assets waiting to be leveraged ICT Light manufacturing Mining Agribusiness Construction Tourism 6 Key Export Industries

10 Leveraging Mining Expanding established areas – e.g. Zambia, Nigeria Large new emerging areas – e.g. Mozambique, Guinea, DRC Good prospects – e.g. Burkina Faso, Cameroon Opportunity to develop infrastructure through mining

11 Africas Infrastructure Gap

12 Growth in Agricultural Productivity

13 Source: WITS, and Whitaker and Kolavalli, The how to technological change for faster growth in floriculture in Kenya, October Smart Support: Government facilitated arrival of strategic investors. Spillovers: Success of foreign companies in floriculture led to entry of other investors, including Kenyans. Deregulations: Compared to the highly regulated agricultural sector Trade Logistics: Leverage of Kenya Airways Kenya horticulture story

14 14 Source: Mallika Shakya, A note on Lesotho success story. Key bottleneck: Land acquisition for foreign investors is difficult and cumbersome. Policies to address the bottleneck: Industrial zones and serviced factory shells. On the job training of workers: Similar productivity at lower wages than in Asia. Trade Logistics: Leverage of Durban port Lesotho apparel story

15 Gorilla tourism in Rwanda

16 Opportunities in Health

17 World Bank Group International Bank for Reconstruction and Development (IBRD) 1944 International Development Association (IDA) 1960 International Finance Corporation 1956 Multilateral Investment Guarantee Agency 1988 International Center for the Settlement of Investment Disputes 1966

18 Knowledge Finance Partnerships Leveraging: Domestic res. IDA, IBRD, IFC,MIGA PCGs, enclaves, etc. Link analysis to policy Political economy Evidence to nourish public debate -Governments -AfDB, AU, RECs - Civil society - Private sector - Development partners 18 World Banks Support to Africa

19 South Africa ICT sector X% job growth The World Bank - AFTFP 2010 Public-private partnerships (PPP) Address the infrastructure deficit Entrepreneurship, knowledge and skills: Raise productivity and create new markets Finance for development: Increase access to finance and supply long-term capital, especially for SMEs Business environment reforms: Reduce cost and risk of doing business Focusing World Bank Support on Main Opportunities

20 Beyond Infrastructure: Agricultural research Health Trade integration Public Health Laboratory Network in East Africa High-impact projects: West Africa Power Pool Inga 3 hydro-project North-South Corridor Regional solutions

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