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African Development Report 2015 Growth, Poverty and Inequality Nexus

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African Development Report 2015 Growth, Poverty and Inequality Nexus African Development Report 2015 African Despite earlier periods of limited growth, African economies Sustaining recent growth successes while making future growth have grown substantially over the past decade. However, poverty more inclusive requires smart policies to diversify the sources African Development and inequality reduction has remained less responsive to growth of growth and to ensure broad-based participation across successes across the continent. How does growth affect poverty segments of society. Africa needs to adopt a new development and inequality? How can Africa overcome contemporary and trajectory that focuses on effective structural transformation. Report 2015 future sustainable development challenges? This 2015 edition Workers need to move from low productivity sectors to those of the African Development Report (ADR) offers analysis, where both productivity and earnings are higher. Key poverty- Growth, Poverty and Inequality Nexus: synthesis and recommendations that are relevant to these reducing sectors, such as agriculture and manufacturing, should Overcoming Barriers to Sustainable Development questions. The objective of this Report is to guide policy be targeted and accorded high priority for public and private Growth, Poverty Growth, Development and Inequality Sustainable to Nexus: Overcoming Barriers processes by contributing to the debate analysing what has investment. Adding value to many of Africa’s primary exports happened during recent years, what has worked well, what may earn the continent a competitive margin in international hasn’t worked well, and what needs to be done to address markets, while also meeting domestic market needs, especially further barriers to sustainable development in Africa? Africa’s with regard to food security. Apart from the need to prioritise recent economic growth has not been accompanied by a real certain sectors, other policy recommendations emanating from structural transformation. As a result, millions of Africans, this Report point to the need to address income inequality, especially women and youth, have been left behind. The Report to close gender gaps, to bridge rural-urban disparities and to highlights the intermediating role of various forms of inequality promote youth employment. These are consistent with the that limit the transformation of Africa’s growth into prosperity African Development Bank Group’s Ten Year Strategy (2013- for all. Unequal access to economic resources and opportunities 2022) for spurring inclusive and increasingly green growth with is mirrored in the continent’s high income inequality, gender its Regional Member Countries. More recently, the Bank Group’s gaps in earnings and opportunities, the rural-urban divide, high five priority areas focus the Bank’s actions to reach the youth under-employment and in the limited priority given to poor much more effectively. By ensuring Africa’s growth is both key poverty-reducing sectors like agriculture, agro-industries, sustainable and inclusive, the Bank will continue to convene and manufacturing. support for the continents’ efforts to improve the quality of life for all Africans. AFRICAN DEVELOPMENT BANK AVENUE JOSEPH ANOMA 01 BP 1387 ABIDJAN 01 COTE D’IVOIRE TEL: +225 20 26 10 20 Email: [email protected] / [email protected] African Development Report 2015 Growth, Poverty and Inequality Nexus: Overcoming Barriers to Sustainable Development African Development Report 2015 Growth, Poverty and Inequality Nexus: Overcoming Barriers to Sustainable Development Copyright © 2016 African Development Bank Avenue Joseph Anoma 01 BP 1387 Abidjan 01 Côte d’Ivoire Tel: +225 20 26 10 20 Email: [email protected] / [email protected] Rights and permissions All rights reserved. The text and data in this publication may be reproduced as long as the source is cited. Reproduction for commercial purposes is forbidden. The African Development Report 2015 is a production of the Development Research Department. The findings, interpretations, and conclusions expressed in the Bank’s publications are entirely those of the author(s) and do not necessarily represent the view of the African Development Bank, its Board of Directors, or the countries they represent. Designations employed in this Report do not imply the expression of any opinion, on the part of the African Development Bank, concerning the legal status of any country or territory, or the delineation of its frontiers. Working papers are available online at www.afdb.org ISBN (978-9938-882-38-4) Printed by Phoenix Design Aid A/S, a CO2 neutral company accredited in the fields of quality (ISO 9001), environment (ISO 14001) and CSR (DS 49001) and ap- proved provider of FSC™ certified products. Printed on environmentally friendly paper without chlorine and with vegetable-based inks. The printed matter is recyclable. ii Foreword poor. The sectors with the greatest potential to transform the structure of African economies – namely, agriculture and industry – have not attracted the levels of investment they need. Inequality along geographical, social and gender lines has prevented many Africans from enjoying the benefits of growth. Finally, extreme dependency on commodity exports, high fertility rates, and social and political fragilities all pose significant challenges for poverty reduction. I firmly believe that development is about delivering real improvements in living conditions right across society. This analysis shows that widespread inequality is limiting both growth and poverty reduction across Africa. These income disparities have remained persistently high over decades, leaving Africa one of the world’s most unequal Dr. Adesina, Akinwumi Ayodeji President, African Development Bank Group regions. Income inequality is also mirrored in unequal access to resources and opportunities between rural and urban residents, and between women and men. The year 2015 marked the conclusion of the Millenni- um Development Goals (MDGs) and the adoption of a Women’s participation in economic, political and social new global development agenda. This is an opportune development is being held back by unequal access to moment for African countries to reflect on their devel- resources and opportunities and unacceptable levels of opment record, to assess what has worked well and where interpersonal violence. This causes both direct harm to we can do better on eradicating poverty. women and their children, and wider costs to African economies. Africa owes its women and girls a better The 2015 Edition of the African Development Report deal. We need targeted interventions to raise women’s (ADR) is an important contribution to that reflection. economic status and to deter aggression. It examines the nexus between growth, poverty and inequality, drawing on decades of experience across the Another group of Africans that has remained widely continent. It explores the complex interplay of factors excluded from recent economic progress is young people. that have inhibited the transmission of Africa’s recent The lack of gainful employment for young Africans is strong growth performance into poverty reduction. one of the most critical policy challenges of our time. It needs to be addressed through measures that stimulate It shows that growth has been concentrated in sectors labour markets, while encouraging long-term declines that make little impact on the incomes and welfare of the in fertility. African Development Report 2015 Growth, Poverty and Inequality Nexus: Overcoming Barriers to Sustainable Development iii It is clear from this analysis that Africa’s structural trans- For our part, the African Development Bank Group has formation remains at an early stage. It also appears to defined a number of operational priorities that will guide be following a different pathway from that seen in other our efforts in the coming years. In particular, I have set parts of the developing world, particularly Asia. While the Bank five key objectives – “The High Five” – defined labour is moving out of agriculture and rural areas, it as: (i) Feeding Africa through improved agriculture and is not, for the most part, going into manufacturing. In- agro-industrial development; (ii) Powering and lighting stead, urban migrants are being absorbed into informal African economies; (iii) Promoting regional integration activities that offer little prospect of advancement. If and trade; (iv) Industrialising Africa through strong Africa is to industrialise, it has to improve its production support to the private sector; and, (v) Improving the capabilities as well as the productivity of its human and quality of life of Africans, especially the poor, women physical capital. This requires significant investment in and young people. To achieve lasting change for Africans, infrastructure, especially in energy, to fuel economic we need to achieve profound transformation of Africa’s activity, and in agricultural technology to support agri- economy and unlock the potential of its citizens. This culture-based industrialisation. report helps tell us how to achieve that. Dr. Adesina, Akinwumi Ayodeji President, African Development Bank Group. iv Acknowledgements The African Development Report 2015 (ADR2015) was prepared by The report benefited from comments and reviews by Stephan staff from the African Development Bank Group, under the overall Klasen and David E. Sahn. In addition, various departments of the guidance of Steve Kayizzi-Mugerwa (Former acting Chief Economist Bank, in particular the Fragile States
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