Key Points:

  • Whether Africa’s future will be one of plunder or prosperity to a large extent depends on the role the private sector gets to play in it.
  • Professor Paul Collier, from Oxford University and the author of the best-selling book, The Bottom Billion, made this argument during a speech at a dinner hosted by CDE in June 2013.
  • In it, he argued that Africa could grow rapidly in the next few decades, but that this would happen only if “effective organisations” emerge and if the governance of extractive industries was improved.
  • A key question for anyone thinking about Africa relates to whether and how its economies will expand.
  • For most of the last decade or so, the global context has been benign for Africa because of the rise in commodities prices and falling global prices for many manufactures. But now the commodity super cycle is over, the question is, what comes next?
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Photo credit: Max Pixel