By definition a more competitive economy is one that is likely to grow faster than most others over time. I therefore believe that the most critical factor for economic competitiveness and growth is good quality education. Unfortunately many African economies continue to underperform the completion by a wide margin because of inappropriate policy decisions, and poor skill sets. All the things we would like to blame are related to these two factors. I insist that if Africa is to become globally competitive in trade and foreign direct investment, we will have to ensure that our academic institutions are graduating students that have the skills needed to produce the goods and services that are needed across the world. Today, countries like India, China and South Korea have gained global ascendancy in trade and overall economic progress because of their commitment to achievements in Science and information technology and the nature and volume of skills they have provided for their people to create jobs and dismiss poverty. In the new Sustainable Development Goals of the United Nations, ending poverty tops the list of 17 goals. As we saw from the previous eight goals, many African countries were unable to even half the proportion of people in extreme poverty. To drive away poverty you need jobs, and to create jobs you need skills. For countries like China and Korea they made sure that they provided skill sets that are demanded domestically and internationally. It is the quality and quantity of these skill sets that drive a country's economic competitiveness. Africa must therefore pay steady and increased attention to the quality of the output of its academic institutions. If we do this, Africa will become more competitive and we will raise our level of living. I am Magnus Kpakol and that's my view.
Posted: Oct 13th, 2015 @ 02:32:33 AM