THE ECONOMIC DEVELOPMENT OF AFRICA

HE ECONOMIC DEVELOPMENT OF AFRICA
Many African countries have had sustained economic growth since the mid-1990s, but have struggled to transform that progress into long-term development goals and plans. Countries, for example, continue to rely heavily on low-productivity agriculture while failing to create strong manufacturing businesses. African nations will have to collaborate with Africa's public and commercial sectors to remove policy and institutional hurdles to long-term growth. I believe that simply growing African economies is insufficient. They must also evolve. In a nutshell, African countries want Growth with DEPTH, which is how some economist summarizes the multifaceted process of economic transformation into a policy agenda.
The economy of most of Africa is underdeveloped, except for South Africa and the countries of North Africa, which all have diversified manufacturing systems. Africa as a whole has plenty of natural resources, but agriculture still accounts for a large portion of the economy, and subsistence farming employs more than 60% of the people.