Accra, July 16, 2024—The annual Country Policy and Institutional Assessment (CPIA) for Africa confirms that countries in Sub-Saharan Africa (SSA) weathered 2023 relatively well thanks to credible economic and social policy reforms. In particular, governments and central banks have started to shift attention from weathering global shocks to building credibility, capacity, and transparency.
Tag Archives: Africa
Digital Opportunities in African Businesses
Tapping Tech to the Full
How much do African firms use digital technology, for what purposes, and how can they be encouraged to use it more? While advances have been made in digitalizing Africa, with mobile payments a success story, firms still face challenges like higher costs of technology. Much more can be done to enable and empower them to reap its full potential, IFC research shows. A new book, Digital Opportunities in African Businesses, outlines the steps to be taken—from investing in digital infrastructure to funding tech startups offering user-friendly, affordable digital solutions. More than 600,000 formally registered firms and 40 million microbusinesses—about 20 percent of businesses in Africa—are potentially ready to benefit from digital upgrades.
Voices from Western and Central Africa: Standing Up for the Power of Girls
STORY HIGHLIGHTS
- Women and girls across the African continent yearn for learning and dream of a better future where they can pursue their education, stay healthy, find work, and care for their families at the same time.
- Many countries in the region are taking steps towards political and economic inclusion. The latest World Bank’s Women, Business, and the Law report highlights that Sub-Saharan Africa continues to advance reforms to close the legal gender gap, but a broad gap remains between laws on paper and the reality on the ground.
- Here are five stories of change that highlight voices of girl champions from the region having ripple effects within their communities and entire countries and economies.
Regional Economic Updates
Here are the latest bi-annual regional economic updates to explore the macro development
trends in Africa, East Asia and the Pacific, Europe and Central Asia, Latin America and the Caribbean, the Middle East and North Africa, and South Asia.
trends in Africa, East Asia and the Pacific, Europe and Central Asia, Latin America and the Caribbean, the Middle East and North Africa, and South Asia. These reports are issued the week before the World Bank-International Monetary Fund Annual Meetings in Morocco, October 9-15.
Annual Meeting World Bank Group and IMF
Tackling Food Insecurity
Stories of resilience from Madagascar, the Central African Republic, and Egypt
Are climate change and drought connected? We asked Richard Damania, the World Bank’s
Chief Economist for Sustainable Development, and two experts from the Bank’s Sustainable Development unit: Senior Economist Esha Zaveri and Senior Climate Change Specialist Nathan Engle. The three are authors of the paper, Droughts and Deficits: Summary Evidence of the Global Impact on Economic Growth.
How a new financing pact can help climate-vulnerable countries
This blog originally appeared in the Project Syndicate on September 8, 2023
Amid an escalating climate emergency and a global debt crisis, calls for a new “fit for climate” global financial architecture are growing louder throughout the developing world. The urgent need for decisive action has been underscored by Barbadian Prime Minister Mia Mottley’s Bridgetown Initiative, the V20 group of climate-vulnerable countries, and the recent Paris Summit for a New Global Financing Pact. This week’s Africa Climate Summit in Nairobi presented a unique opportunity to promote much-needed measures to support low-income countries in pursuing sustainable growth.
Tackling Food Insecurity
Stories of resilience from Madagascar, the Central African Republic, and Egypt
We couldn’t even figure out how to face the next day or find food for our children.”
Volatsarasoa is a mother of four who lives in the village of Malangy, near the southern tip of Madagascar in one of the poorest regions in the country. With a fifth child on the way, she spends a lot of time thinking about a prosperous future for her children by learning from the experiences of her recent past.
When the El Niño phenomenon hit during the 2015-16 rainy season, Madagascar recieved just 50-80% of its normal precipitation – triggering a drought and crop yields that were 90% below normal.
“Me, my husband, and my children suffered a lot because there was no food, and we were starving. We barely ate, most of the time just a cup of rice for all of us, and only in the evening. It was very hard, and we couldn’t even figure out how to face the next day or find food for our children with everything going on I was worried. I was panicked.”
Realizing a Brighter Future for a Young, Energized, and Connected Africa
“We need the means for our dreams to come true.” –Hafsat Abdullahi, Nigerian poet
Dar es Salaam, Tanzania recently bustled with immense energy and optimism. The ambitions and aspirations of young people were matched with commitments by African leaders to take action and invest in people toward a brighter future.
Indigenous Youth on Cultural Identity and a Livable Planet
This year, the International Day of the World’s Indigenous Peoples recognizes the efforts of Indigenous Youth to support sustainable development, along with their pursuit of justice and preservation of their culture and traditions. The World Bank interviewed Indigenous Youth leaders from Africa, Asia, and Latin America to hear their stories and deepen our understanding of their strategies. While each have experienced unique circumstances, they face similar challenges that put at risk their capacity to sustain their peoples’ significant contributions to conserving the world’s rich cultural and biological diversity.
Netherlands for the World Bank 
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