Growth With Depth - 2014 African Transformation Report by the ACET

The African Center for Economic Transformation (ACET) is an economic institute supporting Africa's long-term growth through transformation. Their vision is that by 2025 all African countries will drive their own growth and transformation agendas, led by the private sector and supported by capable states with good policies and strong institutions. The ACET works toward that vision through their analysis, advice and advocacy. 

The premise of this first African Transformation Report is that the recent economic growth, while welcome, will not by itself sustain development on the continent. To ensure that growth is sustainable and continues to improve the lives of the many, countries now need to vigorously promote economic transformation. Growth so far has come from macroeconomic reforms, better business environments, and higher commodity prices. But economic transformation requires much more.

Countries have to diversify their production and exports. They have to become more competitive on international markets. They have to increase the productivity of all resource inputs, especially labor. And they have to upgrade technologies they use in production. Only by doing so can they ensure that growth improves human well-being by providing more productive jobs and higher incomes and thus has everyone share in the new prosperity.

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