Africa in the so called new economy

Africa has, in recent years, become quite fashionable. The continent is enjoying a significant wave of optimism. This is due to the economic growth of the last decade which has been more broad-based than previous growth spurts. However, this is not enough. It is not enough given that what Africa needs is socioeconomic transformation. Any nation that fails to position itself properly in this global and knowledge-based marketplace will increasingly be unable to compete and to transform its economy. And, it is in this area that Africa continues to struggle. Africa continues to specialize in the exports of primary commodities. The continent is ranked 8th out of 8 regions in the world in the Knowledge Economy Index (KEI) of the World Bank in 2012. Out of the 145 countries ranked, no African country was in the top 50. Mauritius the best performing African country ranked 61st while the second, South Africa, ranked 67th...