Dakar Economic Forum opens with highlight on African growth

The Dakar Economic Forum kicked off on Saturday with a discussion on how Africa can maximize it’s potential.

Despite a slowdown in China and low oil prices, Africa is still receiving strong investment flows.

“Growth has remained very strong in all African countries. But if one follows the forecasts, based on the assumptions we have for the next thirty years, the continent’s growth is a little more than 5%.”

“So, the purpose of our meeting is rather how we can actually reach out to 6.5%, 7% growth that will allow us to swallow population growth and use all the potential the continent has,” said Jean- Hervé Lorenzi, President of the Circle of Economists.

Senegal’s President Macky Sall called for an all inclusive growth.

“Growth cannot be reduced to a mechanical hardware that turns on itself by ignoring its human and social purpose. This is also why some gladly replace the GDP with Gross Domestic Happiness and human development. Hence the need for a refocused growth that is socially inclusive.”

Analysts said if the continent harnesses its potential it will spur more growth.