Former Nigerian finance minister Ngozi Okonjo-Iweala is the sort of visionary African leader everyone on stage and in the crowd would wish for Africa. She’s challenged with summing up four days of discussions on “Africa, the next chapter”. She tells us we’re seeing changes in Africa that we never thought would happen. We’ve seen annual growth of 5%, in some cases 6-7%, up from 2%. External debt has been massively reduced. Countries are building up foreign exchange reserves, shoring up their currencies. Private investment flows are increasing, remittances to Nigeria are skyrocketing, and there’s a net inflow of capital. But Africa needs jobs. 62% of Africa’s population is under 24. We have to figure out how to make these people productive. Nigeria is now building an opinion research organization, a way of listening to citizen voices, which she notes is a rare thing on the continent. The top issue in every survey? Jobs. Just a few years ago, she tells us, we couldn’t even talk about “the next chapter” for Africa. There was negative economic growth. There’s been an amazing transformation, and this is something that’s allowed us to have our debate about aid versus the private sector. “It has… (more)
(Posted by Ethan Zuckerman in Sustainable Development at 5:31 AM)