The Challenges of Urbanization Dampen Growth Opportunities in Bamako, Conakry and Niamey: WBG Report

Stocks and Financial Services Press Releases Thursday June 21, 2018 08:56
BAMAKO--21 Jun--World Bank

BAMAKO, June 20, 2017 – While the cities of West Africa grapple with large migratory flows, consisting chiefly of young people, they must tackle the many challenges associated with this rapid urbanization and concentrate on building competitive economies and providing adequate urban services, says the World Bank's fifth edition of the Economic Update for Guinea, Mali and Niger, released today.

Focusing in particular on the three capitals, Bamako, Niamey and Conakry, the report, entitled "The Challenges of Urbanization in West Africa," considers how the cities could harness and develop their potential for productivity growth and livability. These three cities contribute significantly to the national economy, with Bamako accounting for 34% of Mali's GDP, and Conakry and Niamey contributing approximately 27% of the GDP of Guinea and Niger.

"Despite their importance to the national economy, Bamako, Niamey and Conakry are not true drivers of growth: in the three cities, labor productivity, calculated as gross value added (GVA) per capita, is low and has not risen in the last fifteen years, in contrast to the average of 15 other sub-Saharan African cities," points out Meskerem Brhane, Task Team Leader of the World Bank urbanization programs in those countries and co-author of the report.

The report also highlights the absence of urban public services and the lack of access to water, electricity and sanitation. The three cities lag behind the average of sub-Saharan cities and show no signs of catching up.

"To become vectors of growth and provide adequate public services, the three cities should focus on their urban planning and spatial organization, as the three currently have ineffective property markets, which have resulted in anarchical human development and led to investments in buildings and infrastructure far from the center," explains Soukeyna Kane, World Bank Country Director for Mali, Niger, Chad and Guinea. "The lack of investment in infrastructure network, including public transport infrastructure, has exacerbated the problems of urban accessibility and mobility."

By capitalizing on the increasing numbers of young people and promoting controlled urban management, which coordinates public policies and infrastructure investments, the three capitals will be able to accelerate their development and offer economic opportunities to all their residents.

Latest Press Release

Isotropic Systems Raises $14 Million in Series A Funding Led by Boeing HorizonX Ventures to Advance Space-Based Connectivity

- Isotropic's approach to next-generation integrated terminal creates profound change in terminal economics and performance to unlock the satellite industry's full potential Isotropic Systems Ltd., the next-generation integrated satellite terminal...

Global economic growth expected to slow in 2019

The global economy as a whole is expected to slow in 2019 as G7 countries return to long-run average growth rates, according to new projections from PwC in its latest Global Economy Watch. PwC expects that the pick up in growth of most major economies...

QNB Group: Financial Results for the Year Ended 31 December 2018

QNB, the largest financial institution in the Middle East and Africa (MEA) region, announced its results for the year ended 31 December 2018. (Photo: ) Net Profit for the year ended 31...

CIMB THAI announces 2018 financial results with increased in operating income due to loan growth and lower gross NPL ratio. To fully move forward with Fast Forward program.

- Net interest income increased THB 544.3 million YoY mainly from loan expansion and higher interest income on investments. - Profit before tax of THB 271.2 million. - NPL ratio of 4.3% compared to 4.8% YoY due to more efficient risk management policies...

KTC decreases interest and usage fee to Bt. 199 for applying KTC PROUD Revolving Loan.

Ms. Phichamon Jitpentham, Vice President - Personal Loans, "KTC" or Krungthai Card Public Company Limited, helps lighten the loads of consumers' money usage by providing the special privilege to pay a lump sum of Bt. 199 for interest and usage fee for...

Related Topics