Africa

A new tariff-reduction deal aims to knit Africa together economically. But with infrastructure and productivity deficits, is the continent ready to take advantage of it?

The African continent contains some of the fastest growing economies in the world. Collectively, growth in Sub-Saharan Africa alone is projected to climb to an average 3.6% in 2019–20, up from 3.1% in 2018, according to the World Bank. Yet it is also home to many of the poorest countries, with the lowest GDP per capita. With its fast-growing population, rapid urbanization, and expanding middle class, the potential for further economic growth in Africa is enormous. But there remain many barriers to realizing anything near the continent’s full potential.

Chinese finance is stepping up in Africa. While other powers worry about Beijing’s growing influence, it’s hard for cash-strapped governments to say no.