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Introduction: Human Capital and Economic Development
Health and education are both components of human capital and contributors to human welfare. One index of human welfare, which incorporates income, education and health, shows that Africa’s level of ‘human development’ is the lowest of any region in the world.
I. WHAT CAN MICROFINANCE DO FOR AFRICA?
When properly harnessed, microfinance offers a variety of benefits to the African people. Foremost, microfinance initiatives can effectively address material poverty, the physical deprivation of goods, services, and the income to attain them. When properly guided, the material benefits of microfinancing can extend beyond the household into the community. At the personal level, microfinance can effectively address issues associated with “non-material poverty, which includes social and psychological effects that prevent people from realizing their potential.
Report from the Field: Incorporating Microfinance into Kenya's Economic Recovery Strategy
With a population of 30 million people and a per capita income of US$260, Kenya is categorized the 20th poorest country in the world.[1] Estimates indicate that about 47% of the rural population and 29% of the urban population live under conditions of absolute poverty, where malnutrition and seasonal famine are not just a consistent fear, but also a frequent reality in their lives. On the other hand, the unemployment rate, currently estimated at between 25% and 35%, threatens to get out of hand as roughly 0.5 million school dropouts continue to join the ranks of the unemployed every year.

Other slow economic growth Related Articles

Getting Business Smart in 2007
"History does repeat itself" ... even in your business UNLESS you consciously break the pattern. Read If you are tired of slow growth, marginal results and mediocrity, find out the single most important step you can take to prevent repeating your business history in 2007. This one step will jumpstart you to achieving accelerated growth in the new year.

1.1 Global Economic Performance: Economic Report on Africa 2007
World growth is moderate and likely to slow down in 2007
Mobility as a Driver for Economic Development: Tanzania Case Study
As economic growth and industrialization accelerate and livelihoods and incomes improve, so the demand for mobility increases. However, in much of the developing world, demand for mobility solutions to drive economic growth continues to outpace supply, while paradoxically the growing number of vehicles and other mobility solutions has not been matched by improved infrastructure. Business is stepping up efforts to understand and address the sustainable mobility issues being faced by developing economies.
What can business and governments do to promote SMEs?
Poverty remains a major challenge to sustainable development, environmental security, global stability and a truly global market. The key to poverty alleviation is economic growth that is inclusive and reaches the majority of people. Improving the performance and sustainability of local entrepreneurs and small and medium enterprises (SMEs), which represent the backbone of global economic activity, can help achieve this type of growth.
5.2 Is it factor accumulation or total factor productivity that drives growth in Africa?: Economic Report on Africa 2007
To investigate the link between growth and diversification, it was important to first quantify the contribution of TFP to economic growth. This section analyses the sources of growth for African countries using the standard growth accounting method, making it possible to disaggregate the shares of growth contributed by TFP, capital and labour. Growth in output is the sum of the growth in capital, labour and TFP. Capital accumulation is an essential element in the growth process, as it enlarges the economy’s capacity to produce. Increases in labour or labour force have traditionally been considered a positive factor in stimulating economic growth.
Conclusions - Promoting Growth in Sub-Saharan Africa: Learning What Works
Both domestic and external factors contributed to sub-Saharan Africa's poor overall economic performance in the 1980s and early 1990s. Key constraints to growth included inappropriate economic policies, inadequate human capital development, and low levels of private investment. But for the first time in a generation, there is evidence of economic progress in an increasing number of countries in the region.

HUMAN RESOURCE DEVELOPMENT AND ATTRACTING INWARD FDI
One of the characteristics of rich industrial economies is the availability of a workforce with a high level of human capital. Whether human capital has been the key driver of economic prosperity or vice-versa is still a matter of debate. Nevertheless, long time series trends in educational attainment and economic growth during the last century indicate that HRD and economic prosperity went hand in hand10. Some developing countries followed similar trends in human capital and economic growth. What was distinctive about these developing countries is that they appeared to have realised large economic benefits in attracting MNEs into host economies, and have thus mobilised inward FDI to attain rapid economic growth.
What s Holding Back Africa s Growth?
This plenary session discussed the contributing factors to Africa s poor economic growth, including the conclusions of the World Economic Forum s Africa Competitiveness Report 2004, and the actions that governments and business can take to promote economic growth. The discussion included calls from business participants and the panel for action against corruption on the continent.

Franchises for a slow economy
How to buy a franchise in a slow economy is an important consideration at times of economic slowdown. However the focus of your franchise business building should encompass short, medium and long term development considerations. Nick Strong MD of www.selectyourfranchise.com looks at how to buy a franchise in a slow economy.

What Recovery
THE Bureau of Economic Analysis released its estimate of GDP growth, and the pace of expansion was revised down again. Currently we are below the rate of population growth, which is to say that in per capita terms output continues to shrink. So how are things looking forward?
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