African countries need democratization process and economic transformation, to ameliorate investment climate, to sustain pro-poor growth, to cope with population increases, to become competitive in the global economy and to create the conditions for better governance. This book has mobilized concepts like Governance, Investment Climate, Capital Flows, Economic Reforms, Innovations and Reduction of Vulnerability to analyse theoretically and practically the economic policy of development in Africa. The contents of this book consists of two parts and six chapters. It is helpful to policymakers, practitioners, lecturers in economics, social scientist, students of Masters, Post-graduates and PhD candidates in social science, and all readers interesting by development problems.