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Sub-Saharan Africa’s Push to Diversify

January 26, 2018

Radio telescope dishes, South Africa. Technology opens doors for startups and helps economies diversify. (photo: Mike Hutchings/Reuters/Newscom)

In the new world of lower commodity prices, many sub-Saharan African countries are having to diversify their economies. And while sub-Saharan Africa has had periods of rapid growth, the process by which workers move from low-productivity jobs to better paying higher productivity jobs has been slower than in other regions. The IMF’s latest Regional Economic Outlook for sub-Saharan Africa devotes an entire chapter to studying the potential benefits of a stepped-up diversification agenda. In this podcast, co-author Axel Schimmelpfennig says Africa’s young entrepreneurs should be at the heart of the diversification process.

Axel Schimmelpfennig, IMF Mission Chief for Uganda 

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