Africa currently faces a $200 billion fiscal gap—six times greater than the expected decline in official development assistance (ODA). Yet 77 percent of Africa’s countries still depend on ODA for more than 10 percent of government revenue, underscoring how deeply external financing remains embedded in public sector systems across the continent. While Africa remains rich with opportunity, many growth prospects have yet to be fully realized. Critical reforms will be key to building more market-ready fiscal systems and a resilient future.
In recognition of Africa Day, discover four strategic levers outlined by McKinsey Senior Partner Acha Leke and coauthors that could help generate more than $200 billion for the continent over the next decade. And explore the insights below to learn more about Africa’s untapped growth and innovation potential.
From borrowing to building: A new fiscal path for Africa
Closing the loop: The quest for gender parity in African tech
Engines of growth: Foreign exchange at the heart of Egypt’s journey
Expanding economic opportunities for rural farmers in East Africa
From potential to performance: A snapshot of African banking
From purpose to practice: A McKinsey partner’s journey of leadership and impact in Africa