However despite the gloomy forecast, a point to note is that Sub- Saharan Africa is growing at diverging speeds; Ethiopia, Rwanda, and Tanzania—are continuing to post annual average growth rates of over 6 percent which is way higher than the region’s average, It was noted that these countries have stronger quality of monetary and fiscal policies, better business regulatory environment, more diverse structure of exports, and more effective public institutions. That is to say, the established and improved performers have made more progress in business regulation, rule of law, and government effectiveness. Rwanda is one of the fastest structural reformers in the region.

The report further notes that Sub-Saharan African countries underfund high-return investments, and that increasing the efficiency of current public spending in agriculture while rebalancing its composition could reap massive benefits.

“Improving the productivity of smallholder farms is central to lifting rural incomes and reducing poverty in Sub-Saharan Africa,” says Punam Chuhan-Pole, Lead Economist for World Bank Africa and the report’s author.“But unleashing this productivity requires investing in rural public goods such as rural infrastructure, agricultural research, and use of improved technologies, as well as in availability of good data and evidence.”

Increasing agricultural productivity is central to transforming Sub-Saharan African economies and promoting sustained and inclusive growth. This has to date been done by expanding the area under cultivation rather than productivity gains.

See report below for more.

Africa’s Pulse by Kisa on Scribd

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Grants for African Entrepreneurs: The African Diaspora Marketplace (ADM) is a business plan competition designed to support the entrepreneurial spirit and resources of the U.S. based African diaspora community to promote economic development in Sub-Saharan Africa by facilitating diaspora direct investment (DDI) in viable small and medium enterprises(SMEs).

The ADM is currently seeking proposals for start-up and established businesses operating (or to be operated) through partnerships between U.S. based members of the African diaspora and local Sub-Saharan African entrepreneurs.

Following a rigorous review and selection process, 10-20 winning businesses will be awarded matching grants of between $50,000 and $100,000 each.

Grants to winners will be matched by investments of diaspora members and their partners on a one to one basis through a combination of financial and in-kind contributions.

Proposals must be implemented in one of the following Sub-Saharan African countries where USAID has both on the ground presence and potential technical assistance programs for entrepreneurs: Angola, Burundi, Ethiopia, Ghana, Kenya, Liberia, Malawi, Mali, Mozambique, Namibia, Nigeria, Rwanda, Senegal, Sierra Leone, South Africa, Sudan, Tanzania, Uganda and Zambia.

Eligibility:

• Must be a start-up or established business seeking to expand or introduce new goods or services.
• Must be legally registered in the Sub-Saharan African country of implementation.
• Businesses that are not yet legally registered may also participate in the competition provided they are able to become legally incorporated before advancing to the final round of the competition.
• Must include a minimum of 25% ownership by the proposing U.S. based diaspora member.
• Proposals that advance to the final round will be required to submit evidence of diaspora ownership.
• All commercially viable proposals will be considered; however, the ADM is particularly supportive of proposals for business ventures working in productive sectors including but not limited to: agribusiness, handicrafts, textiles, tourism, environmental services such as waste management, construction and infrastructure, logistics and transportation, manufacturing and assembly, fisheries, livestock and information and communication technologies (ICT).

For more information and application, see: Grants for African Entrepreneurs – ADM Business Plan Competition >

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