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Abstract

Charting a solid path for Africa's future development requires a good understanding of the factors that shape the past and current growth processes. This calls for an objective narrative of Africa's growth process. Section I addresses the key elements cf structw al economic transformations and identifies the opportunities for structural transformation in Africa. This explains the key risks and challenges that are likely to affect Africa's growth prospects in the years ahead are. Africa needs to develop its capacity to produce sophisticated, bigher-value goods for which it's demands rise globally as income increases. The myriad opportunities in agro-industrial and extractive-value chain linkages, wide scope for economic diversification, rising urbanization, and emerging middle class make this more appealing.

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