Podcast: Sub-Saharan Africa’s push to diversify

80 percent of Uganda's population does not have access to power © AFP / ISAAC KASAMANI

, Kampala, Uganda, Mar 14 – In the new world of lower commodity prices, many sub-Saharan African countries are having to diversify their economies.

And while sub-Saharan Africa has had periods of rapid growth, the process by which workers move from low-productivity jobs to better paying higher productivity jobs has been slower than in other regions.

The IMF’s latest Regional Economic Outlook for sub-Saharan Africa devotes an entire chapter to study the potential benefits of a stepped-up diversification agenda.

In this podcast, co-author Axel Schimmelpfennig says Africa’s young entrepreneurs should be at the heart of the diversification process. Axel Schimmelpfennig, IMF Mission Chief for Uganda.