Mastercard Foundation - Economic Development Trends in Africa - 2014-03-18

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Title
Mastercard Foundation - Economic Development Trends in Africa - 2014-03-18
Author
Kaylee Stewart
Year
2014
Publication/Event Date
March 18 2014
Abstract
This 2014 report outlines Africa's strong economic growth, averaging 10% per year (2000–2013), but notes that gains are unevenly spread, contributing to persistent poverty and civil unrest. While agriculture employs 70% of the population, productivity remains low. The burgeoning youth population, set to comprise 20% of the global workforce by 2045, faces high unemployment due to skill gaps. Technology, particularly mobile (80% penetration), is essential, driving innovation in finance to reach the over 75% unbanked population. Furthermore, external funding flows are increasingly dominated by remittances and Foreign Direct Investment, rather than ODA.
Resource Subject
  • Financial Inclusion
Keywords/Access Points
Agriculture; Technology; Youth Employment; Global Financial Flows; Financial Inclusion; Macroeconomic Growth
Geographic Locations
  • Africa
Language
  • English
Demographic Groups
  • Youth
Special Collections
  • Foundation Publications
Archival Record ID
MFA.2024.2289