Improving science and technology training and modernising services could help boost Africa’s economic growth prospects, says the World Bank.

The World Bank on Monday said economic growth in sub-Saharan Africa is forecast to hit 5.2% in 2014, up from 4.7% in 2013.

Rising investment in natural resources and infrastructure, and strong household spending are factors driving Africa’s growth, according to the World Bank’s twice-yearly ‘Africa Pulse’ analysis of the issues shaping the continent’s economic prospects.

But the World Bank notes that Africa’s economic growth could be accelerated even further if it adopts improved and broader science and technology training.

“High-quality university programmes in Africa, particularly in areas such as the applied sciences, technology, and engineering, could dramatically increase the region’s competitiveness, productivity and growth,” says Makhtar Diop, the World Bank Group’s vice president for Africa, in a statement.

“Strategic reforms are needed to expand young people’s access to science-based education at both the country and the regional level, and to ensure that they graduate with cutting-edge knowledge that is relevant and meets the needs of private sector employers,” added Diop.

The World Bank goes on to note that globalisation of services is a potentially important source of growth for developing countries, especially for those in Africa.

The World Bank says that at over $50 billion, Africa’s “services exports trail all other developing regions; however, it is expanding annually at about 12%, on average.”

The global financial body advises that African businesses then could do more to use technology and outsourcing to “overcome their old constraints such as physical and geographic proximity” to boost its services sector.

“Modern services, such as software development, call centres, and outsourced business processes, can be traded like value-added, manufactured products, enabling developing countries that focus on such services, innovation, and technology to leverage services as an important driver of growth,” says the World Bank in a statement.

Overall; though, investment and trade in Africa continues its upward trajectory.

The World Bank in its report says that capital flows to sub-Saharan Africa reached an estimated 5.3% of regional GDP in 2013, above the developing-country average of 3.9%.

Meanwhile, net foreign direct investment (FDI) inflows to the region grew 16% to a “near-record $43 billion in 2013, boosted by new oil and gas discoveries in many countries including Angola, Mozambique, and Tanzania.”

Inflation in the region also slowed to 6.3% in 2013, compared with 10.7% in 2013.