By broadening its sources of investment, Africa will lay the foundation for sustained growth and poverty reduction, according to the United Nations Conference on Trade and Development (Unctad) new policy brief.
Furthermore, Unctad says that the international community has a key role to play in Africa’s growth insofar as it can complement the efforts of national governments.
In addition, the Unctad Economic Development in Africa Report 2014: Catalysing Investment for Transformative Growth in Africa, notes that “concerted actions are needed at the national and international levels to stimulate investment in Africa.”
The report also points out that it is necessary to enhance the contribution of investment to the growth process on both the demand and supply sides of the economy, as government policy should be geared toward exploiting the complementarities between local and foreign investment.
