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Data Can Fuel Africa's Economic Growth
Africa is home to some of the world’s fastest-growing economies and one of the most promising regions for international investment. This growth could be accelerated by addressing a fixable problem: lack of good data.
Reliable, accessible data plays a critical role in any economy. Investors require data before making decisions, and the more complete and up-to-date the data, the greater their willingness to invest. Data also helps public officials make sound decisions that promote growth and innovation, and enables citizens to hold government and business accountable. This is why improving data collection has been a high priority for many African governments, as well as Pan-African and global institutions. The private sector also has an important role to play. The company I founded, Bloomberg, provides access to real-time financial news and data, and we have been working with capital markets in 24 African cities to make local economic and financial data more easily available.