In September, DEGRP travelled to Accra, Ghana for a series of events around the African financial sector, growth and structural transformation.
The first was a DEGRP public debate 'what does it take to build a stable and efficient financial sector for sustained growth and structural transformation in Africa.' co-hosted by ISSER at the University of Ghana. The Governor of the Bank of Ghana, Dr Kofi Wampah led with a speech and called for robust regulation for Ghana's financial market with the sector needing to focus on depth, access and efficiency. He also affirmed that Cedi was the only legal currency that could be used by local businesses. At the same time, Dr Charles Ackah from ISSER declared interest rate spread as particularly high in Ghana compared to other countries. There was also a broader debate about the African continent from key policy-makers including Dr Usha Thorat on lessons from India and Professor Akio Hosono on development banks.
During the same week, Professor Stephany Griffith Jones a DEGRP grant holder organised a project workshop bringing together a number of African researchers, UNCTAD, Spratt (IDS), and others.
Finally, Dirk Willem te Velde from DEGRP spent half a day at the think tank ACET (African Centre for Economic Transformation), a DEGRP grant holder organisation, to discuss the importance of structural transformation. The Full presentation can be found here.