World Bank Vice President for Africa, Dr Oby Ezekwesili, has charged African Leaders to make policies that would boost economic growth and reduce poverty in the region.
Ezekwesili? said this at the on-going Spring Meeting of the World Bank and International Monetary Fund (IMF), on Friday in Washington DC while discussing “The Rise of Social Safety Nets in Africa’’.
According to her, there is the need to build vibrant institutions and regulatory systems that will drive the process of private sector participation.
She said that the economic growth witnessed in the continent had left some people behind, adding that in a season of growth, social economic safety was an important tool of public policy
This, she said would cushion impact and effect of the growth.
She also revealed that although African had shown relative and positive economic growth, good policies would facilitate inclusive growth in the region. “Economic growth is critical to the continent, it is a necessary condition, you can’t wish it away we need economic growth in other to reduce poverty. Therefore, all the economic policy choices that will lead to growth must be supported in other that countries should growth.
“So policy makers will do well to keep their handle on those key policies, macroeconomic policies, structural, sectorial polices that are needed, the right investments, the choice of investment, efficient and effective investment that are pro-poor,’’
She said that the Rise of social Safety Nets in Africa had helped to reduce poverty in the region.
“Social safety nets are taking off across Africa, where more than 120 cash transfer programs have been set up in the last 10 years.
“There is growing evidence that they significantly help to reduce poverty. In Rwanda, the government has attributed rapidly falling poverty between 2006 and 2011 partly? to the vision 2020 Umurenge programme of public works and cash transfer,’’ she added.