CHAPTER 14

The Sub-Saharan African Region

All these speeches emphasize the importance of economic growth, the private sector, and financial markets for the reduction in poverty in Africa. These are only a few examples of many such speeches I gave in Africa. Most were not written down, and the one I remember most was not written down. It was given to a group of government official and representatives of NGOS at the U.S. Ambassador’s residence on the banks of the Niger River in Niamey. It required consecutive translation from English to French and this created a nice rhythm and cadence to the talk, but the content was similar to Item 1 given in Mauritius.

I believe I noticed a change in the attitude of many African leaders during these years, with a much greater consensus forming that entrepreneurship and economic growth is essential to improve the lives of their people. Indeed, policies are improving, and economic growth did pick up a lot in 2003 and 2004, but it is still too low and needs to increase further.

1. Productivity Growth: The Key to Poverty Reduction in Africa, African Growth and Opportunity Forum, Mauritius, January 16, 2003

2. Economic Policies and Investment Risk in Africa, U.S.-Africa Business Summit, Washington, D.C., June 26, 2003

3. The U.S. -- African Mortgage Market Initiative, Kampala, Uganda, May 25, 2004

4. Developing the Nigerian Market through the U.S.-Africa Mortgage Market Initiative Roundtable, Nigeria, October 5, 2004