Growing inequality hits Africa's growth

The 2012 Africa Progress Report, launched on Friday, warns that Africa’s strong economic growth trajectory -- which will see the region increase the pace of growth well beyond 5 per cent over the next two years -- is at risk because of rising inequality and the marginalisation of whole sections of society.The report, an achievement of the ongoing World Economic Forum on Africa, calls for African leaders to deliver on jobs, justice and equity to turn the continent’s population boom into a demographic dividend and avoid disaster.Kofi Annan, Chair of the Africa Progress Panel, states in the report that, Disparities in basic life-chances -- for health, education and participation in society -- are preventing millions of Africans from realising their potential, holding back social and economic progress in the process.The report notes that Africa has seven of the worlds fastest- growing economies, with 70 per cent of Africas population living in countries that have averaged economic growth rates in excess of 4 per cent over the past decade.However, the report also records that most countries are not on track to achieve the Millennium Development Goals by 2015, flagging slow progress in areas such as child nutrition, child survival, maternal health, and education.Rwanda has continuously expressed optimism that the remaining MDGs can be achieved by 2015, despite the challenges ahead, and has on numerous occasions been commended for her commitment to meet the targets.During a past UN MDG summit in New York, Rwanda was cited as one of the few countries that have taken great strides in achieving the MDGs particularly in the area of maternal and childrens health.But Rwanda should be well on course to achieving the remaining MDGs in the next years and the country should be able to maintain the tempo and due recognition it has been given, the Minister of Finance, John Rwangombwa said in a past interview. The need for equitable growth is all the more critical, the Africa Progress Report states, because of Africas profound demographic shift, which will see the continents population double in three decades, and continue to rise into the second half of the 21st century.The report stressed that today there are 70 million more Africans under 14 than there were a decade ago. Over the next decade that number will rise by another 76 million.The report calls for a relentless focus by policymakers on jobs, justice and equity to ensure sustainable, shared growth that benefits all Africans. Failure to generate equitable growth could result in a demographic disaster marked by rising levels of youth unemployment, social dislocation and hunger.Africas governments and development partners must urgently draw up plans for a big push towards the 2015 Millennium Development Goals, the report says.

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Growing inequality hits Africa's growth