Africa’s economies have been riding the crest of a global commodity wave that could transform the continent’s prospects. The 2013 Africa Progress Report explains how this unprecedented chance could lift millions out of poverty and improve the prospects of generations to come.
The report from the Africa Progress Panel sets out an agenda for maximising Africa’s natural resource wealth and using it to improve well-being. African governments should start with a strengthened focus on fiscal policy and equitable public spending on infrastructure, health, education, water and sanitation. Moves towards greater transparency and accountability should be broadened and deepened.
International action can create an enabling environment for strengthened governance in Africa. Tax evasion, illicit transfers of wealth and unfair pricing practices are sustained through global trading and financial systems – and global problems need multilateral solutions. African citizens should demand that their governments meet the highest standards of propriety and disclosure. Governments in developed countries should demand the same thing of companies registered in, or linked to, their jurisdictions.