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The global commodity slump and China's economic slowdown have pummeled several African economies, making clear that the continent's "rise" was a myth. Now is the time to re-examine the basis of Africa's recent "boom" and move from feel-good rhetoric to action that will drive genuine economic transformation.Commodity To be sure, Africa benefited from higher GDP growth and expanded opportunity over the last decade. Africa's leaders in the public and private sectors have an opportunity to clear the policy bottlenecks that have prevented the commercialization of African inventions, especially in large economies such as Nigeria, South Africa (which has a more advanced innovation policy than the rest of the continent) and Kenya.The commodity downturn need not stop Africa's development. But if lasting prosperity is to be achieved, today's challenges must be regarded as an opportunity to reset the trajectory of the continent's economies on a truly transformational path.
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