The Structural Transformation and Economic Diversification of Sao Tome and Principe

As a micro island State, Sao Tome and Principe (STP) faces many challenges that seriously impede its development process. Its governance capacity must be strengthened to allow the formulation of development policies likely to address its current needs in a relevant and coherent manner. The country’s infrastructural deficit (in areas such as transport, water, health and electricity) amidst dispersed populations contributes to high levels of public expenditure. This is compounded by high costs of production and of distribution of goods and services. The relatively weak private sector is not in a position to make a significant contribution to meet the needs of the population. This week, a panel discussion will be held to raise awareness on the opportunities and challenges of AfCFTA for STP, explore opportunities to promote diversification and development of the country’s blue and green economy, explore approaches to maximize the positive effects of AfCFTA and reduce the negative impacts it may have, particularly on the country’s fiscal revenues. It will also be an opportunity to explore ways of strengthening links between the ECA and the academia in STP.

SOURCE: VENTURES AFRICA