Africa has recently experienced impressive transformation, including economic growth of about 5-7 percent despite the global economic crisis. However, the opportunities that accompany such transformations have not been fully harnessed and significant challenges remain. Africa’s transformation process differs from other regional transformations in several ways. Many continue to live in rural areas and depend on agriculture, the industrial sector is still underdeveloped, and structural change out of agricultural employment remains limited. Lessons from the experiences of developed and emerging economies point out that the role of agriculture as a catalyst for broader economic growth is crucial.
At this panel discussion, His Excellency, John Agyekum Kufuor, Former President of the Republic of Ghana will share Ghana’s experiences with its transformation process. Dr. Shanta Devarajan, Chief Economist of the Africa Region at the World Bank will discuss the challenges and opportunities for African economies as they undergo the process of transformation. Dr. Mwangi Kimenyi, Senior Fellow and Director of the Africa Growth Initiative at the Brookings Institution will talk about growth in Africa and the prospects for broad-based economic transformations. Dr. Shenggen Fan, Director General of IFPRI will chair the event.