Africa

Africa’s steady economic growth and positive socioeconomic indicators continue to improve. However, these are yet to translate into benefits and opportunities for Africans and are reflected in human development remaining at the lowest average level compared to other regions in the world.

The vast majority of African countries remains in the UNDP’s Low Human Development group. Persistent inequality,poverty  and inequity in access to social services and economic opportunities, particularly for youth, the aged, persons with disabilities  and women, are creating deficits in human development, and slowing progress toward achieving development and democracy goals.

Despite this discouraging backdrop, Africa’s transformation varies between countries and the outlook for meeting the SDGs is improving. Recent strong growth has underpinned an expansion of social investments, which in turn has led to improvements in livelihoods, reflected in rising universal primary education, falling under-five mortality rates, a reduction in adolescent birth rates and expansion of female labor participation.

The OPEC Fund's footprint in the Africa region extends to 53 countries.  In 2019, the OPEC Fund approved US$944.6m to 19 countries - the lion's share supporting the energy (US$287.7m), agriculture (US$189.9m),  transportation (US$146m) and financial (US$100m) sectors.