The current emerging market downturn in economic powerhouses like China, has already negatively affected African economic growth. For resource-rich countries, it is a chance to improve their public investment management (PIM) system, which could help boost growth; although from experience drawn, Sub-Saharan oil resourced countries on average score lower in PIM, reflecting weak administrative capacity and low transparency in the use of public resources, especially at the project appraisal and evaluation stages of the PIM process. Countries that have successfully diversified their economies will suffer less than those that have not and they will enjoy less stress than countries depending on exporting one or two commodities for their economic growth. Some East African countries and countries like Morocco, Senegal and Côte d’Ivoire are among countries that are harvesting the fruits of diversifying their economy and facing less economic shock. It is hoped that this will be a lesson for others to learn from.
Mshanga, Florian Cyril
"The State of African Economy and a Way Forward,"
Young African Leaders Journal of Development: Vol. 1, Article 24.
Available at: https://digitalcommons.kennesaw.edu/yaljod/vol1/iss1/24