The African Capacity Building Foundation (ACBF), the Arab Bank for Economic Development in Africa (BADEA) and partners have jointly published the Africa Export Competitiveness Report 2023.
The other partners are Shift Impact Africa, the Institute for Competitiveness Africa, and the Institute for Competitiveness India.
The report was released in Accra during an event to mark the 50th Anniversary of BADEA in July.
“The Africa Export Competitiveness Reports aim at becoming a regular benchmark publication and a world-class reference in its field,” the partners said.
The Report offers valuable insights to tackle effectively crucial trade challenges on the continent while driving inclusive growth and to unleash Africa’s substantial untapped export potential. It also thoroughly examines the export capacity and ecosystems of 30 African countries, shedding light on the main factors and obstacles influencing Africa’s export competitiveness.
The key findings provide a more comprehensive understanding of the continent’s economic landscape, complexities and main drivers to foster an intensification of intra-African trade and African exports, they said.
In a press release copied to Ghana Business News, it said, the African Export Competitiveness Index framework is built on four foundational pillars.
- The first pillar, Enabling Environment, evaluates the policies, infrastructure, and knowledge systems crucial for enhancing export capabilities and fostering economic growth.
- The second pillar, Demand Sophistication, focuses on analyzing domestic market demands, which supports businesses in their capacity to innovate and to remain competitive by understanding the evolving needs of buyers.
- The third pillar, Business Dynamism, emphasizes the importance of financial accessibility, administrative efficiency, and foreign direct investment (FDI) in promoting export competitiveness and economic development.
- Finally, the fourth pillar, Export Performance, measures the extent and diversification of exports, offering valuable insights into market penetration, high-tech exports, and the overall effectiveness of export activities across Africa.
The Africa Export Competitiveness Report makes key recommendations to African nations to boost their export competitiveness. The report suggests that countries should focus on diversifying and expanding their export sectors, investing in research and development (R&D), improving export infrastructure, and promoting export diversification through innovative incentives and strong support to develop new profitable export sectors and niches.
