Africa 2.0: Harnessing natural resource wealth for economic transformation
Monday, October 7, 2013
Paris, France

Reversing the previous trend of the 1990s, structural transformation in Africa has been positive over the last 10 years: overall productivity rose and labour moved to more productive activities. With a growth projected at 4.8% in 2013 and a further 5.3 % in 2014, the medium-term economic outlook for Africa continues to be favourable despite headwinds from the global economy.Today’s Africa economies face the formidable challenge of creating gainful employment opportunities for millions of people both by sustaining the pace of growth and by making it more inclusive. To create opportunities for sustainable employment and wealth creation, African countries need to focus on making the most of their natural resources while concentrating on the sectors that hold promise for low skilled jobs and putting in place conditions for diversification and upgrading. Structural transformation and inclusiveness are fundamental to achieving this great potential and Africa’s abundant natural resource wealth can provide the base.The Forum is the annual meeting of policy-makers, economists and researchers working on and with Africa. Every year, more than 500 participants (ministers and high-level representatives of the private sector, academia, and civil society organisations) gather to discuss the performance of African economies and the major challenges faced by the continent. The Forum is organised by the OECD Development Centre, in collaboration with the African Development Bank (AfDB), the United Nations Development Programme (UNDP), the Economic Commission for Africa (ECA), the French government, as well as the European Union.http://www.oecd.org/site/africa-forum13/