The annual flagship report Africa's Development Dynamics provides the latest information on economic policies on the African continent and in its five regions. It proposes a new narrative assessing Africa's economic, social and institutional performance in light of the targets set by the African Union's Agenda 2063. This 2023 edition explores how Africa can attract investments that offer the best balance between economic, social and environmental objectives. Africa's Development Dynamics is the product of a collaborative approach. It results from a strong partnership between the African Union Commission's Department of Economic Development, Trade, Tourism, Industry and Minerals and the OECD Development Centre, bringing together a team of academic researchers, economists, statisticians, and experts from Africa and other regions.The first two chapters explore the current investment landscape in Africa and recommend priority actions, offering lessons from across the continent and beyond. The next five chapters focus respectively on the five regions as defined by the Abuja Treaty: Southern, Central, East, North and West Africa. These chapters tailor policy recommendations to strategic areas in each region, covering natural ecosystems, renewable energy, climate finance and agri-food value chains.This edition draws on a wide range of data sources to analyse public, private, domestic and foreign sources of investments. These sources are complemented by primary data collected through an AUC/OECD online survey on investment risks, barriers and priorities linked to cross-border investments in African countries. The survey was administered from June to October 2022 to the networks of African business councils and the EU-Africa Business Forum, gathering responses from 58 African and non-African business representatives. Eight in-depth interviews with multinational investors that are members of the OECD Emerging Markets Network (EMnet) were also conducted to supplement the survey results.