Africa stands at a pivotal demographic turning point

Jean-Michel Severino, Chairman of the Supervisory Board of the I&P fund, believes that Africa is on the cusp of benefiting from the demographic dividend and the growth of its population. In a recent interview, Severino shared his insights on the current state of Africa’s development and the challenges and opportunities that lie ahead.

Severino highlighted that Africa is transitioning demographically, with the birth rate starting to fall and the continent seeking to improve the ratio of active to inactive people to unlock the demographic dividend. Despite experiencing economic growth between 4% and 5% since the beginning of the century, Africa has faced challenges such as the impact of major events like Covid-19, the Russian-Ukrainian crisis, and rising interest rates.

However, Severino remains optimistic about Africa’s future, citing a more favorable economic climate with declining global interest rates and the potential for the demographic dividend to become a reality. He emphasized the importance of national economic policies tailored to the current context and the need for better governance to navigate the complex landscape of external financing.

Severino also discussed the role of organizations like I&P in supporting African entrepreneurship and the need to scale up efforts to accelerate the growth of businesses on the continent. He highlighted the diversity of African countries and the varying trajectories in terms of efficiency and success, emphasizing the importance of addressing challenges like conflict, terrorism, and political instability.

In conclusion, Severino underscored the potential for Africa’s transformation in the coming decades, driven by demographic shifts and improved public policies. He expressed his intention to contribute to the debate on Africa’s future vision through a forthcoming book, reflecting his deep commitment to the continent’s development.