Strategy financing, Economic recovery, Africa, Structural development finance, Capital market.


The paper examines the impact of Structural Adjustment Programmes (SAP) on investment and growth in Africa and suggests the need for a new development paradigm. Working in partnership with the private sector, African Governments must establish a sound institutional and incentive framework for rapid growth. An alternative development strategy should be market-friendly and people-centred and must give priority to the accelerated expansion of exports and Small and Medium Enterprises (SMEs). In view of the bleak prospects for external financing, Africa must rely on domestic financial institutions and capital markets to mobilise the required financial resources for economic recovery.

Author Bio

The author is a staff of Nigeria Industrial Development Bank Limited

Publication Title

CBN Bullion







To view the content in your browser, please download Adobe Reader or, alternately,
you may Download the file to your hard drive.

NOTE: The latest versions of Adobe Reader do not support viewing PDF files within Firefox on Mac OS and if you are using a modern (Intel) Mac, there is no official plugin for viewing PDF files within the browser window.