The Africa Competitiveness Report 2015comes out at a promising time for the continent: for 15years growth rates have averaged over 5 percent, and rapidpopulation growth holds the promise of a large emergingconsumer market as well as an unprecedented labor force that- if leveraged - can provide significant growthopportunities. Moreover, the expansion of innovativebusiness models, such as mobile technology services, isindicative of the continents growth potential. However,Africa continues to be largely agrarian, with an economythat is underpinned by resource-driven growth and a largeand expanding informal sector. Indeed, more than a decade ofconsistently high growth rates have not yet trickled down tosignificant parts of the population: nearly one out of twoAfricans continue to live in extreme poverty, and incomeinequality in the region remains among the highest in theworld. What is more, across sectors - from agriculture tomanufacturing and services - productivity levels remain low.It will be necessary to raise productivity across allsectors of the economy to achieve higher growth and createquality employment, and turn this progress into sustainableinclusive growth.
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