GB502 Unit 8 Peer Responses
Directions
1. Response posts
1. Select two peers to respond to.
2. Take on the role of a consultant. Read their recommendations thoroughly then provide some rationale as to why you think their recommendations are persuasive (or not).
Emma Chatterton
From reading the online article provided it is clear that the reforms that have taken place in numerous countries have had a positive impact upon them and their economic growth. Many countries have decided to make it easier for people to gain employment. For example, Nigeria made it easier to create a personal or family business. They did this by allowing electronic stamping of registration documents which sped up the process and made it simpler. This made it much more attractive for entrepreneurs to start up their businesses. (World Bank Group, 2017) Kenya also made it easier for their citizens to create their own business. By reducing the number of procedures required to register a business and reduced the time for import documentary compliance by utilizing a single window system. (World Bank Group, 2017) There were also other positives that were described that showed us how these changes made great improvements to economic growth. Zambia made a reform which allowed businesses to do business across the border easier. Another good example is that in Rwanda they made it possible that it now only takes 7 days to legally transfer a property title.
With the overwhelming aspect of COVID, many countries struggled to keep their economic progress as the virus took over lives, in particular businesses. Businesses struggled to pay their bills and stay afloat. The key factors for Africa to understand and implement during these times include ambitious reforms that support job creation, strengthen equitable growth, protect the vulnerable and contribute to environmental sustainability. (World Bank Group, 2021) Doing these things could help to protect and supply a recovery following the damage of covid within Africa. African countries have successfully, with these reforms, started to cut domestic and external financial imbalances, enhancing economic efficiency. (Basu et al., 2000) The African continent as a whole has been giving more time and money to health care, education and other basic needs. In addition, there has been more trust and cooperation from the government between the state and civil society. (Basu et al., 2000)
If I were looking for recommendations to further inspire economic growth and reduce unemployment rates, I would ensure that there was enough training in place. Training that can continue the education of already employed workers and also training for those who are starting for the first time without any knowledge. I would also recommend that the government keep providing access to new jobs. This could mean that they are using money to improve infrastructure. This in turn will create some jobs. For example, if they are looking to build new roads to improve delivery this creation of a new road can create many jobs.
References
Basu, A., Calamitsis, A., & Ghura, D. (2000). Economic issues no. 23--promoting growth in Sub-Saharan africa. International Monetary Fund. Retrieved December 6, 2021, from https://www.imf.org/external/pubs/ft/issues/issues23/index.htm.
World Bank Group. (2017, October 31). Sub-Saharan African economies set new record in reforming their business climate: Doing business. World Bank. Retrieved December 6, 2021, from https://www.worldbank.org/en/news/press-release/2017/10/31/sub-saharan-african-economies-set-new-record-in-reforming-their-business-climate-doing-business.
World Bank Group. (2021, March 31). Amid recession, Sub-Saharan Africa poised for recovery. World Bank. Retrieved December 6, 2021, from https://www.worldbank.org/en/news/press-release/2021/03/31/amid-recession-sub-saharan-africa-poised-for-recovery.
Shelby Jarrard
After reading the assigned article, I would agree that the reforms made in several of the sub-Sahara African countries did have a positive impact on their economies. There were many different reforms in countries ranging from Malawi, Nigeria, Zambia, Niger, Benin, Rwanda, Senegal, and more. Some of the reforms dealt with construction permits, ease of access to credit, trading across borers, business start ups, and much more. Many of these reforms help economies because they make credit available to more businesses and individuals, allow for trade to be conducted easier and faster, make it easier for businesses to complete projects that can fuel the economy, etc.
"Much of the reform activity in the past year focused on the areas of Trading Across Borders and Starting a business. These reforms accounted for 64% of the 22 reforms recorded in this area globally" (Sub-Saharan African, 2017). One example of a reform made in this field is the creation of a database by Zambia that can be used for customs data to be stored when trading across borders. This reform made it easier and faster to trade across borders. Angola and Mozambique also had similar reforms to making trade across borders easier, but through improving their port infrastructure (Sub-Saharan African, 2017). These reforms contributed positively to the economy because it allowed for trade to be conducted between multiple countries. The reforms helped with unemployment levels because jobs were created to make the database and to improve the infrastructure.
After seeing the positives that came from these reforms, my recommendation would be to continue making reforms that help these countries move forward and become better. The only concern I would have with unlimited reforms is who is going to pay for them. Many of the reforms made were large projects, and that can't come cheap. I would recommend these countries to make reform suggestions within reason, keeping a budget in mind and how much they can afford.
Sub-Saharan African economies set new record in reforming their business climate: Doing Business. The World Bank. (2017, October 31). Retrieved from https://www.worldbank.org/en/news/press-release/2017/10/31/sub-saharan-african-economies-set-new-record-in-reforming-their-business-climate-doing-business (Links to an external site.) .