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Guest post by: United Nations Economic Commission for Africa Become an Author

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The diversification of African economies is one way through which the recent economic
growth achievements could be sustained. Africa’s economic transformation
can be achieved through both horizontal and vertical diversification. In addition,
such diversification will help to build competitive economies that can productively
be integrated into the global economy. Diversification is therefore a pre-condition if
Africa is to register accelerated development. The scaling-up of current real growth
to desired levels and in a broad manner can also be sustained if there is deepening in
the diversification of African economies.

The relevance of diversification to economic growth and development is not new.
But diversification might have been abandoned at a time when it could have played
a major role in strengthening gains from earlier reforms efforts on the continent. The
Economic Report on Africa 2007 presents the theme of diversification as a new paradigm
for Africa’s development. The report argues that diversification is a prerequisite
to achieving positive development in the continent. This chapter and the following
two will provide analytical and empirical evidence of the importance of diversification
as a key pillar in the continent’s development.

This chapter explores Africa’s diversification trends to see how Africa has fared in its
attempts to diversify its economy and to enable structural transformation to take
place. Practical export experiences of some countries are also presented. This then
leads to what this Report calls the diversification regimes that characterize the results
of the diversification efforts.

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  4.3 Conclusion: Economic Report on Africa 2007
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  Overview VII: Economic Report on Africa 2007
  1.8 References: Economic Report on Africa 2007
  6.0 The Way Forward: Economic Report on Africa 2007
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  5.1 Faster economic growth could assist in diversification efforts: Economic Report on Africa 2007
  6.4 Industrialization policies key to deepened diversification: Economic Report on Africa 2007
  5.1 Insufficient investments in Africa have hindered the deepening of diversification: Economic Report on Africa 2007
  5.1 There can be little diversification without an optimal trade policy: Economic Report on Africa 2007
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  5.3 Conclusion: Economic Report on Africa 2007
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