The private sector in most African countries plays critical role to helping the continent reach its full economic and social potential, according to the latest African Development Report published by the African Development Bank (AfDB) in May 2012.
The sector is now poised to become the main engine of growth
for the African continent, after being hamstrung for decades by difficult
political and economic conditions and burdensome government policies, AfDB
president Donald Kaberuka says in the report which examines the challenges
facing the sector’s development and highlights ways to address these
challenges, taking country differences into account.
“The African Development Bank is committed to addressing the
constraints of private sector development, Mr Kaberuka said, adding: “We believe that private sector development
is fundamental for creating inclusive growth through employment creation.”
