From the Executive Summary:
The sustained commodity boom of the last decade provided a new impetus to a number of African countries, after decades of economic turmoil. High growth rates recorded in recent years uncovered new opportunities to finally address long-standing socio-economic challenges that had hindered the continent’s economic performance for decades. From an economic perspective, to be truly transformative, these opportunities will have to be translated into employment creation, improved productivity and industrialisation, and governments will increasingly be put under pressure to deliver on concrete results.
Among the priorities, two issues stand out as being very high on the agendas of many African countries. Firstly, the capacity to mobilise domestic revenue from extractive resources is viewed as essential to finance broader economic priorities, both within and outside the extractive sector. Secondly, it becomes imperative to define a clear strategy towards industrialisation to diversify away from the dependence on commodities and more broadly, to consolidate the economic base.
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