From the ACET:
Our report’s main premise is that African economies need more than growth—if they are to transform, they need growth with DEPTH. That is, they need to Diversify their production, make their Exports competitive, increase the Productivity of farms, firms, and government offices, and upgrade the Technology they use throughout the economy—all to improve Human well-being.
But transformation is a long-term process. It requires constructive relationships between the state and the private sector. Private firms will lead in the production and distribution of goods and services, in upgrading technologies and production processes, and in expanding employment. But firms need a state that has strong capabilities in setting an overall economic vision and strategy, efficiently providing supportive infrastructure and services, maintaining a regulatory environment conducive to entrepreneurial activity, and making it easier to acquire new technology and enter new economic activities and markets.