Why Africa Needs Wellbeing Economies

As Africans, this question is pertinent for four reasons. First, we are navigating some of the fastest rates of urbanization globally. Close to half of the continent (41 per cent) already lives in urban centres and in countries like Botswana, Equatorial Guinea and São Tomé and Príncipe, over 70 per cent of the population is estimated to be urban. Secondly, the median age on the continent is 19 years.  This rapidly urbanizing and young population could be enviable if it could be harnessed for good. Thirdly, the history of extractive and colonial efforts on the continent, also amplified by the recent global Black Lives Matter protests, demonstrate that a radically different, more equal and pan-African future is needed. Finally, we live in the Anthropocene, a planetary age where human-driven developments have pushed the earth beyond its reasonable limits, putting us at more risk for disasters and pandemics such as the coronavirus.

With these considerations in mind, it is certainly time for us to discuss a vision of growth for the continent, whose success metric is improved human and planetary wellbeing. The continent is also placed well to do this, as while high-income countries, such as the Netherlands, are needing to pivot their already established growth pillars to get it right, the large gaps in infrastructure and capital yet to be harnessed means that we can get development right from the get-go.