Growth potential in Africa remains “exceptional” despite the challenges that remain, World Bank (WB) president Ajay Banga said on Wednesday in Marrakech.
“The level of demographic growth in Africa in the coming years and the potential for growth on the Continent are exceptional. Nevertheless, real challenges remain on the ground”, said Banga at a press conference on the occasion of the Annual Meetings of the WB and the International Monetary Fund (IMF), which run until October 15 in the ochre city.
Among these many challenges, Banga cited trade-related problems, noting that it is still “very complicated” to ensure the free movement of goods in Africa.
“Indeed, today it’s cheaper to send goods from Africa to an offshore destination and back to Africa than to go directly from one country to another, across African borders,” he added.
Intra-regional trade therefore needs to be further encouraged, so as to create job opportunities for young people and take advantage of this demographic growth on the Continent, said Banga.
He also stressed the need to strengthen the healthcare system, pointing out that the objective is not simply to receive care, but to put in place medical devices developed in Africa for Africa.