gvA Update

Certainly, if governance improves and conflict is reduced, Africa can become even more globally competitive. However,discussions on economic integration and conflict resolution should begin to focus more at the community level. Even so, African economic communities such as ECOWAS, SADC or COMESA and the rest of them have the prospects to successfully integrate the continent and increase community trade by concentrating their efforts on community capacity building in the appropriate management of their natural resources. As I have said in the past, I believe that a successful management and processing of Africaâs natural resources along with broad based infrastructural growth can speed a link-up for regional integration, using industrial parks and effective community development and management. And this will attract new and broader trading opportunities all across Africa. What we need to be in step with global trends will be efforts to close Africaâs well known competitiveness gaps in key areas, including institutions, education, skills, community economic development and appropriate technology growth. As former president Olusegun Obasanjo one of the most extraordinary leaders Africa has known in recent times has said, Africa is ready to take the lead in World Economic affairs but has to do more in the area of economic integration and overlapping product demand. I agree with him and believe that in addition, for Africa to really take the lead, two things must happen: 1. Africa must work to reduce the cost of production of goods and services by looking to reduce the costs of funds for investments and SME development. 2. Africa also has to provide the Infrastructure and improved skill sets, attitudes and aspirations needed to raise productivity and drive overall output. If we do these things Africa will become more competitive and we will raise our level of living. I am Magnus Kpakol and that's my view.

 

Posted: Sep 22nd, 2015 @ 01:59:00 AM