MUBS is hosting its 17th Annual International Management Conference under the theme; “Transiting to Medium Income Economy for African Countries”. In the last 20 years, China has emerged as the world’s largest factory and is changing the nature of world economic order. It has become the 2nd largest economy in the world and it is believed that in the next 30 years, it may surpass the US. The growth in China has led to increased wealth among Chinese. This trend of economic transformation has taken place
through many countries in Asia and now in Sub-Saharan Africa. Africa continues to be left out in the transformation process though it is taken as the area where the next growth will come from.
Sub-Saharan Africa continues to be a place of risk of business characterised by poverty, ignorance and disease. Countries that have transitioned from poor to medium income or even high income have grown to over 8% per year over a period. Africa has a natural wealth enterprising people and should be poised to
grow. Unfortunately, this is not taking place.
The absence of growth is now attributed to factors including governance, cultural institutions besides economic policy. Will Africa transit from low income to medium economies?
