Financial development, trade crucial to Africa’s competitiveness
By: Samantha Tonkin
African businesses can become far more competitive, but African governments and their international partners will need to improve access to finance, resist pressure to erect trade barriers, upgrade infrastructure, improve healthcare and educational systems, and strengthen institutions.
These are the conclusions of The Africa Competitiveness Report 2009, released at the start of the World Economic Forum on Africa 2009. The findings of the report reflect research efforts of three institutions – the World Economic Forum, the African Development Bank and the World Bank.
Limited access to financial services remains a major obstacle for African enterprises, but underdeveloped infrastructure, limited healthcare and educational services, and poor institutional frameworks also make African countries less competitive in the global marketplace.
The report also points to a number of success stories in the region that highlight steps countries can take to improve the business environment.
Do you agree with the findings of The Africa Competitiveness Report 2009? What do you think the major barriers to greater competitiveness in Africa are?
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http://www.healthyhabitsofwealthywomen.com Michelle Boudreau