Introduction
The African Center for Economic Transformation, commonly known as ACET, is a pan-African economic policy institute that supports Africa’s long-term growth through economic transformation. Based in Accra, Ghana, ACET works with governments, private sector actors, development partners, foundations, researchers and regional institutions to promote smarter, more inclusive and more sustainable development across the continent.
ACET is best known for its focus on economic transformation rather than growth alone. The organization argues that African economies need growth with deeper structural change, including diversified production, export competitiveness, productivity increases, technology upgrading and improved human well-being. This approach is captured in ACET’s “Growth with DEPTH” framework.
For interns, researchers, policy students and grant writers, ACET is a useful example of a modern African policy institute. It is not a traditional grant-making foundation or enterprise foundation, but it works with governments, foundations and development partners and supports policy-relevant research through initiatives such as the Young Leaders in Research Grant.
History and Background
Founding of ACET
The African Center for Economic Transformation was founded in 2008 by Dr. K.Y. Amoako, a Ghanaian economist and former United Nations Under-Secretary-General who also served as Executive Secretary of the United Nations Economic Commission for Africa. After decades of work in global development, Dr. Amoako established ACET to help African countries move beyond short-term growth and focus on long-term economic transformation.
ACET was created at a time when many African countries were experiencing growth, but not always the kind of structural change needed to create productive jobs, expand industry, improve exports, strengthen institutions and reduce poverty. The organization’s work therefore focused on practical research, policy advice and convening to help governments and development partners understand how transformation happens.
Growth with DEPTH
ACET’s central analytical framework is called Growth with DEPTH. The word DEPTH represents five pillars of transformation:
- Diversification.
- Export competitiveness.
- Productivity increases.
- Technology upgrading.
- Human well-being.
This framework helps policymakers and development actors move from general economic growth discussions toward practical strategies for transformation. It asks whether economies are becoming more diversified, more competitive, more productive, more technologically advanced and more beneficial to ordinary people.
ACET’s Pan-African Role
ACET has worked across multiple African countries and policy areas. Its work includes research reports, policy analysis, advisory support, high-level convening, transformation forums, country studies, regional dialogue and global advocacy. The organization positions itself as a bridge between research and action by producing evidence, sharing knowledge and supporting policy implementation.
Mission and Purpose
ACET’s Mission
ACET’s mission is to help governments and the private sector deliver economic transformation that improves lives. This mission reflects the organization’s belief that economic policy should not only increase national income but also create better jobs, stronger industries, improved productivity, inclusive growth and higher living standards.
ACET’s Vision
ACET’s vision is an economically transformed Africa within a generation. This vision emphasizes long-term change and recognizes that transformation requires coordinated action across governments, businesses, civil society, researchers, funders and regional institutions.
Core Purpose
ACET’s purpose can be understood through the following functions:
- Producing research and analysis on African economic transformation.
- Offering policy advice to governments and private sector actors.
- Convening policymakers, researchers, business leaders and development partners.
- Supporting evidence-based economic decision-making.
- Promoting Africa-led policy solutions.
- Strengthening regional and global advocacy on African development.
- Supporting young researchers and policy thinkers.
- Promoting smart, inclusive and sustainable development.
ACET’s work is highly relevant to development economics, research grants, policy research, public-private dialogue, economic governance, regional integration, youth employment, digital policy, gender equality and green industrial transformation.
Governance and Structure
Board Leadership
ACET is governed by a Board of Directors made up of experienced African and international leaders in development, economics, policy, governance, finance and institutional leadership. The Board provides strategic oversight and helps ensure that the organization remains focused on its mission.
The current ACET governance pages list Dr. Donald Kaberuka as Board Chair. The Board also includes members with strong backgrounds in public policy, economics, international development, academia and institutional leadership.
Executive Leadership
ACET is led by a President and Chief Executive Officer. In 2024, ACET announced Mavis Owusu-Gyamfi as its President and CEO, effective July 1, 2024. She succeeded Dr. K.Y. Amoako, who became Founder and President Emeritus after leading the institution since its founding.
This leadership transition reflects ACET’s move into a new phase of institutional development while maintaining its original commitment to African economic transformation.
Organizational Structure
ACET’s work is organized around research, analysis, policy advice, advocacy, partnerships, communications, finance, operations and program delivery. The organization works through internal experts, fellows, research partners, country-level actors and international collaborators.
Its governance structure also includes policies, procedures, annual reporting and public information on its board, partners and institutional work. These systems support transparency, accountability and effective management.
Funding and Grants
Funding Partners
ACET is supported by a mix of governments, foundations and organizations that share its goals for better jobs, improved livelihoods and inclusive, sustainable growth. Its funding partners have included public agencies, development partners and philanthropic foundations.
Examples of ACET’s listed funding partners include international development institutions, government partners and major foundations. This shows that ACET operates within a development finance and philanthropic ecosystem, even though it is not itself an enterprise foundation.
How ACET Uses Funding
ACET uses funding to support research, analysis, policy advice, convening, advocacy, fellowships, country engagement, publications, institutional partnerships and transformation-focused programs. Its funding model is therefore linked to policy research and development impact rather than traditional charity service delivery.
Funding supports activities such as:
- Economic policy research.
- African Transformation Reports.
- African Transformation Index work.
- Country studies and policy briefs.
- Advisory support to governments.
- Youth research and leadership initiatives.
- Regional and global policy dialogue.
- Events and convening.
- Communications and public knowledge sharing.
- Institutional partnerships.
Research Grants and Young Leaders in Research
ACET also supports research grants through specific initiatives. One important example is the Young Leaders in Research Grant. This 12-month grant supports early-career African researchers in economics and related fields to conduct policy-relevant, context-driven research that advances Africa’s transformation agenda.
The Young Leaders in Research Grant offers research funding, mentorship, peer learning, professional development, visibility and publication opportunities. The grant provides up to USD 15,000 for eligible research-related costs such as data, analysis, travel, materials and publication support.
This program is important because it builds the next generation of African researchers and strengthens African-led evidence for economic transformation.
Is ACET a Foundation?
ACET should not be described as a traditional foundation or enterprise foundation. It is a pan-African economic policy institute and nonprofit think tank. However, it works with foundations and development partners, receives support from philanthropic and institutional funders, and contributes to research and policy ecosystems.
For SEO purposes, terms such as “foundation,” “philanthropic activities” and “enterprise foundation” may be useful for comparison, but they should not be used as ACET’s legal or organizational classification.
Major Programs and Initiatives
African Transformation Report
The African Transformation Report is one of ACET’s flagship knowledge products. It examines Africa’s transformation challenges and provides evidence-based recommendations for governments, policymakers, researchers and development partners.
The report focuses on structural transformation, regional integration, productivity, trade, technology, governance and inclusive growth. It helps frame Africa’s development debate around transformation rather than growth alone.
African Transformation Index
The African Transformation Index measures economic transformation across African countries using the Growth with DEPTH framework. It helps compare country progress in areas such as diversification, export competitiveness, productivity, technology upgrading and human well-being.
The index is useful for researchers, policymakers, interns and development organizations because it provides a structured way to assess transformation performance.
Economic Management and Governance
ACET’s Economic Management and Governance work supports governments in strengthening policy design, economic resilience, public management and transformation planning. This program area focuses on improving the policy environment for long-term growth and better development outcomes.
Gender Equality
ACET works on gender equality as part of inclusive economic transformation. This includes research and policy analysis on women’s employment, access to finance, skills, decision-making, productivity and participation in the future of work.
Green Industrial Transformation
Green Industrial Transformation is a key issue area for ACET. It focuses on climate-smart growth, sustainable industrial policy, circular production, resilient supply chains, green jobs and the role of African economies in a low-carbon future.
Innovation and Digital Policy
ACET’s Innovation and Digital Policy work focuses on how digital transformation, technology, data governance, innovation systems and digital public infrastructure can support inclusive economic development in Africa.
Private Sector Development
The Private Sector Development program examines how firms, markets, finance, investment and business environments can support transformation. It also looks at how African enterprises can become more productive and competitive.
Regional Integration
Regional Integration is central to ACET’s work because many African economies need larger markets, cross-border investment, regional value chains and shared policy solutions to transform. ACET’s work supports cooperation beyond national boundaries.
Youth Employment and Skills
Youth Employment and Skills is a major theme because Africa’s future depends heavily on whether young people can access quality jobs, training, entrepreneurship pathways and productive work. ACET’s work in this area includes research, policy dialogue and initiatives focused on the future of work.
African Transformation Forum
ACET convenes leaders, policymakers, researchers, business representatives and development partners through platforms such as the African Transformation Forum. These convenings are designed to move evidence into policy dialogue and action.
Transformation Fellowships and Networks
ACET also works through fellowships, networks, institutional partnerships and leadership platforms. These initiatives help connect experts, policymakers and emerging leaders around Africa’s transformation agenda.
Impact and Examples of Work Funded
Evidence-Based Policy Influence
ACET’s impact lies in its ability to produce evidence and turn it into policy conversation and practical advice. Its research helps governments and partners understand how to strengthen economies through productivity, diversification, competitiveness, technology and human well-being.
Country and Regional Engagement
ACET has worked with African governments and institutions across national, regional and global levels. Its policy advice and research have supported discussions on economic governance, youth employment, regional value chains, industrial transformation, gender equality, digital innovation and climate-aware growth.
Support for Young African Researchers
Through the Young Leaders in Research Grant, ACET supports early-career African researchers with funding, mentorship and visibility. This contributes to stronger African research capacity and helps young economists and policy researchers influence public debate.
Transformation Data and Measurement
The African Transformation Index helps track transformation progress and provides a measurement tool for policymakers and analysts. It allows users to assess whether economies are becoming more diversified, productive, competitive, technologically upgraded and socially beneficial.
Knowledge Products and Publications
ACET’s reports, studies, briefs, articles and annual reports provide useful material for policymakers, researchers, students, journalists and development practitioners. These publications support learning on Africa’s economic transformation and highlight practical policy options.
Convening and Advocacy
ACET’s convening power is another form of impact. By bringing together governments, foundations, development partners, researchers and private sector actors, ACET helps create shared understanding and coordinated action around Africa’s development priorities.
Examples of Work Areas
Examples of ACET’s work include:
- Research on African economic transformation.
- Analysis of national development banks.
- Studies on young women’s employment and the future of work.
- Reports on regional integration and shared markets.
- Advocacy on reforming the global financial architecture.
- Policy work on digital innovation and green industrial transformation.
- Youth-focused research grants and leadership initiatives.
- Country-level policy dialogue and transformation planning.
Conclusion
The African Center for Economic Transformation is a leading pan-African economic policy institute focused on helping African countries achieve long-term transformation that improves lives. Since its founding in 2008 by Dr. K.Y. Amoako, ACET has worked to move Africa’s development agenda beyond growth alone toward deeper structural change.
Through research, policy advice, advocacy, partnerships, grants, fellowships, reports and convening, ACET supports governments, private sector actors, researchers and development partners in advancing smart, inclusive and sustainable development.
For interns and beginners, ACET provides a strong example of how an African policy institute can combine research, funding partnerships, policy engagement and public knowledge to influence development outcomes. Its work is especially relevant for understanding economic transformation, research grants, policy analysis, youth employment, digital innovation, green industrial policy and Africa-led development.
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