Investing in Africa: What needs to change?

Business Daily

BBC

Business

4.4 • 816 Ratings

🗓️ 3 July 2023

⏱️ 18 minutes

🔗️ Recording | iTunes | RSS

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Summary

Large parts of sub-Saharan Africa are facing dire economic circumstances. The World Bank says more than one in three countries are either in severe financial distress, or are close to default. What’s gone wrong?

In the first of a week of programmes, Ed Butler taking the pulse of investment in Africa and looking at ways the situation needs to change.

Presenter / producer: Ed Butler Image: Mine in Guinea; Credit: BBC

Transcript

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0:00.0	Whether you call it football or soccer in your part of the world,
0:03.1	Match of the Day, Africa Top 10 is the podcast from the BBC World Service
0:06.6	ranking the best African players.
0:08.4	This guy is recognized as the best in the world.
0:10.3	Teams.
0:10.8	The ball coming turn, boom.
0:12.6	And the biggest moments in African football.
0:14.5	The whole world remembers that.
0:15.8	Remember that yet.
0:16.5	It's not just African fans.
0:18.0	Match of the day, Africa Top 10.
0:19.9	Find it wherever you get your BBC podcasts.
0:23.4	Hi there, welcome to Business Daily on the BBC World Service.
0:27.0	My name's Ed Butler.
0:28.1	Today, in the first of a series of programs looking at investment in sub-Saharan Africa,
0:33.4	I'm going to be asking, how did it get so bad for the continent?
0:37.9	Nobody anticipated there's a huge macroeconomic shocks that countries were to be hit by,
0:43.5	countries like Ghana, Zambia.
0:45.9	Unless we're investing in schools, unless we're investing in education now,
0:49.4	we are looking to a less resilient global economy going forward.
0:53.5	An IMF boss tells us the world needs to wake up to Africa's funding squeeze.
0:58.9	Meanwhile, some business voices reckon Africa needs to lift itself out of crisis.
	...

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