Brookings has two pieces worth reading on the state of Africa’s economies.
The main takeaways are that: 1) there are many Africa’s; some states are doing well while others continue to run around in circles 2) Governance, Governance, Governance. You cannot have a thriving business sector amidst high levels of unpredictability and 3) Trade, both intra-continental and to other regions of the world, is the key to African development.
How do you feel about the proposed monetary union and possible political federation of the East African Community?
Jason, greater integration means a bigger market and better labor mobility. I just hope that monetary union will be accompanied by greater fiscal coordination so we don’t have the problems that the EU is going through right now.
I am mostly optimistic about it all though.