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Full Report of the IOE Forum on Diverse Forms of Work, Geneva, 14 June 2017 - Out now!

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IOE Contact

Mr Frederick Muia

Direct line: +41 22 929 00 20

Africa

Africa today is perceived as the next frontier. The continent is increasingly catching the eye of foreign investors as the next opportunity for growth. The 2010 McKinsey Global Institute Report "Lions on the Move" attests to this fact.  The continent managed to achieve high economic growth rates in the first decade of the 21st century reaching an unprecedented 6.1% in 2007.

According to the 2010 African Union/UNECA Economic Report on Africa, this growth was largely attributed to high commodity prices, high yields from the extractive industries, FDI and inflows from other sources such as remittances.  However, improved growth is also attributed to increased macroeconomic stability and better economic management.

Africa has emerged from the global financial crisis more rapidly and resiliently than other regions. The main objective of African countries today is to promote sustainable growth and unemployment reduction in order to create job opportunities, particularly for young people and other vulnerable segments of society.

IOE work with its more than 40 African members centres on supporting them to enhance public private dialogue in order to sustain the positive developments witnessed to date.

African governments increasingly acknowledge and understand that the private sector is the engine of growth and is critical to employment generation. They are being called upon to take the necessary measures to create an enabling environment for sustainable enterprises, to support competitiveness, and to build confidence for both domestic and foreign investments. Above all, business calls on governments to remove barriers to enterprise creation and development.

The IOE works to respond to the increasing African consensus on the need to harness private sector development and to support ongoing improvement in the climate for doing business in Africa.