There are forty-seven countries in Sub-Saharan Africa that are eligible for World Bank borrowing. Despite a difficult economic environment, growth in Africa has averaged about 3 percent in the last fiscal year, and well-managed countries which have implemented solid reform agendas and built a record of stability and good governance had an average growth of 4 percent.
Governance issues continue to plague many African countries, and the slow pace or lack of political and economic progress in some of the key countries also affects investor’s perceptions of the continent.
While Africa’s prospect for meeting the Millennium Development Goals (MDGs) is uncertain, the picture is not uniform. Increased primary school enrollments have improved prospects in education, and progress has been made toward restoring peace and stability in key parts of the continent.