Increasing interest rates in Africa would not curb inflation but would hinder growth and productive investment. A more effective strategy involves accelerating structural transformation by directing finance towards productive industries.

<p>Monetary tightening in Africa would not only fail to rein in inflation; it would raise the cost of productive investment, suppress growth, and hamper the continent's much-needed structural transformation. A better strategy would focus on accelerating this transformation by channeling finance into productive industries.</p>