The CPIA Africa report highlights policy trends, best practices, and key changes in Sub-Saharan Africa, following the World Bank's annual Country Policy and Institutional Assessment (CPIA). The analysis is designed to assess the elements of policies and institutional arrangements within a country's control for promoting sustainable growth and poverty reduction. Discussion is limited to countries eligible for financing from the International Development Association (IDA), the part of the World Bank that supports the world’s poorest countries. With government investment and spending in Sub-Saharan Africa currently constrained, there is an urgent need for the private sector to accelerate. This year's CPIA Africa report focuses on reforms across policy areas that bolster private sector growth and highlights the policy trends that have been instrumental in supporting business development in 2023. The CPIA 2024 report for Africa underscores several key developments. First, the region has made significant strides in economic management and policies for social inclusion and equity, surpassing the global IDA average. However, the slower improvement in the governance cluster remains a concern. Second, the region has implemented reforms to enhance resilience to international economic shocks, particularly in central bank independence and transparency. Nonetheless, exchange rate pressures have posed challenges for countries actively managing exchange rate fluctuations. Third, the growing debt service obligations in the region limit the amount of resources available for public-sector investment. Public spending is especially constrained in countries with heightened concerns about external debt distress with some countries resorting to increased arrears and monetary financing. Finally, the report highlights two major trends offering hope for private sector growth: digital technology and increased intraregional trade. These trends have the potential to be transformational and provide significant opportunities for increased competition, FDI inflows, and economic diversification.
Authors
- Citation
- “ World Bank . 2024 . CPIA Africa, June 2024: Structural Reforms for a Vibrant Private Sector . © Washington, DC: World Bank . http://hdl.handle.net/10986/41830 License: CC BY-NC 3.0 IGO . ”
- Collection(s)
- Institutional and Governance Review
- Pages
- 124
- Published in
- United States of America
- Rights
- CC BY-NC 3.0 IGO
- Rights Holder
- World Bank
- Rights URI
- https://creativecommons.org/licenses/by-nc/3.0/igo
- UNIT
- Office of the Chief Economist for the Africa Region
- URI
- https://hdl.handle.net/10986/41830
- date disclosure
- 2024-07-15
- region administrative
- Africa
- region geographical
- Africa , Sub-Saharan Africa
Files
Table of Contents
- STRUCTURAL REFORMS FOR A VIBRANT PRIVATE SECTOR 1
- STRUCTURAL REFORMS FOR A VIBRANT PRIVATE SECTOR 3
- Contents 5
- Executive Summary 11
- Introduction 15
- Section 1 Policy Context 17
- Section 2 CPIA Score Analysis and Trends for 2023 24
- Section 3 Analysis of the CPIA Components 30
- CLUSTER A ECONOMIC MANAGEMENT 30
- CLUSTER B STRUCTURAL POLICIES 41
- CLUSTER C POLICIES FOR SOCIAL INCLUSION AND EQUITY 51
- CLUSTER D PUBLIC SECTOR MANAGEMENT AND INSTITUTIONS 66
- BENIN 78
- BURKINA FASO 79
- BURUNDI 80
- CABO VERDE 81
- CAMEROON 82
- CENTRAL AFRICAN REPUBLIC 83
- CHAD 84
- COMOROS 85
- CONGO REPUBLIC 87
- CÔTE DIVOIRE 88
- ERITREA 89
- ETHIOPIA 90
- GAMBIA THE 91
- GHANA 92
- GUINEA 93
- GUINEA-BISSAU 94
- KENYA 95
- LESOTHO 96
- LIBERIA 97
- MADAGASCAR 98
- MALAWI 99
- MALI 100
- MAURITANIA 101
- MOZAMBIQUE 102
- NIGER 103
- NIGERIA 104
- RWANDA 105
- SÃO TOMÉ AND PRÍNCIPE 106
- SENEGAL 107
- SIERRA LEONE 108
- SOMALIA 109
- SOUTH SUDAN 110
- SUDAN 111
- TANZANIA 112
- TOGO 113
- UGANDA 114
- ZAMBIA 115
- ZIMBABWE 116
- CPIA Africa Compare Your Country 117
- Appendix A CPIA Components 118
- Appendix B Country Groups and Classification 119
- Appendix C Guide to the CPIA 121
- Appendix D CPIA Process 122
