Private investment in Africa

OECD Observer

“Africa is awakening to the realisation that its progress lies in partnership…we have got to be partners against all the evils emanating from the legacy of our history.”

These were the concluding words of Mozambique’s president, Joaquim Chissano, who on 4 April became the second African head of state to recently visit the OECD. Mozambican President Chissano followed Senegal’s Abdoulayé Wade who in February 2002 came to participate in the launch of the Development Centre/African Development Bank’s first African Economic Outlook (see Book reviews).

Speaking to an international audience of diplomats and experts, President Chissano noted the OECD Development Centre’s contribution “to the strengthening of cooperation between Africa and the industrialised countries” in the interest of African development. He said that such co-operation was essential to strengthening the New Partnership for Africa’s Development (NEPAD), especially in the areas of peace, democracy and good governance. The NEPAD is an initiative launched by African heads of state to break the cycle of underdevelopment on the continent.

The Mozambican president emphasised the role of private investment in infrastructure and pointed out the need for the state to create an environment which would encourage and reassure such investment. Using his own country as an example, he brought the link between investment and stability into sharp relief, showing that post-civil war reconstruction could only be undertaken once the private sector had faith in the ability of the authorities to protect investment.

©OECD Observer No 237, May 2003




Economic data

GDP growth: -1.8% Q1 2020/Q4 2019
Consumer price inflation: 0.9% Apr 2020 annual
Trade (G20): -4.3% exp, -3.9% imp, Q1 2020/Q4 2019
Unemployment: 8.4% Apr 2020
Last update: 9 July 2020

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