Rethinking the foundations of export diversification in Africa: The catalytic role of business and financial services
Over 80 percent of African economies are commodity dependent. While over the last two decades commodities have provided a strong base for economic growth in Africa, the recent multiple crises have exposed the vulnerability of undiversified economies to external shocks. To ensure that past gains are not wiped out by current and future crises, African economies must adapt. Innovation will play a key role in diversification, with a likely shift from the traditional structural transformation path, towards a diversification strategy through services and enhanced private sector participation.
Against this background, UNCTAD is organizing a dissemination webinar for the recently published Economic Development in Africa Report 2022, which bears the subtitle Rethinking the Foundations of Export Diversification in Africa: The Catalytic Role of Business and Financial Services.
The event brings together government practitioners, private sector representatives and development partners. It provides an innovative forum for dialogue that could strengthen economic diversification in Africa, with a focus on the catalytic role of the services sector.
