Audio By Carbonatix
The CEO of the Chamber of Bulk Oil Distributors, Senyo Hosi, has expressed worry that as the general economic performance of Africa improves, the quality of life of many Africans is lagging behind.
“Africa since 2000 has been outperforming the world’s economy, so yes Africa is rising,” he said at the ALM Africa Dialogue in London.
He added: “But if you look at the human development indices and the quality of education, for example, there’s one thing we can be certain about: Africa is rising but Africa is not rising with its people.”
This he explained by indicating that Africa outperforms the world in its economic growth but not in its human development indices.
Mr. Hosi said as Africa positions herself to become the next economic frontier, the continent risks coming to be “a great bed for everyone elsewhere to come and sleep [in] and go.”
He said Africans risk being left out of the economic benefits on the continent and bemoaned the lack of capacity of Africa’s labour force which is largely made up of young people.
Mr. Hosi said the rising numbers in Africa’s youth population could be advantageous if African countries invest in the quality of education.
He charged African leaders to invest in the development of their people, saying “we won't be able to harness our potential if we don’t invest right in the future and that’s the quality of education.”
Beyond this, Mr. Hosi advised that corruption and lack of proper planning must be addressed for the continent to thrive.
Other speakers at the event included Ugandan President Yoweri Museveni, Chief Executive Officer of SEAGAL Group (Liberia) Momo Cyrus, and Nirmala Rewa from the Economic Development Board of Mauritius.
Others were the former UK Foreign Office and Cabinet Minister, Jim Murphy and UK businessman Sir Richard Heygate. The event was on the theme “Harnessing Africa’s Global Economic Appeal”.
He said Africans risk being left out of the economic benefits on the continent and bemoaned the lack of capacity of Africa’s labour force which is largely made up of young people.
Mr. Hosi said the rising numbers in Africa’s youth population could be advantageous if African countries invest in the quality of education.
He charged African leaders to invest in the development of their people, saying “we won't be able to harness our potential if we don’t invest right in the future and that’s the quality of education.”
Beyond this, Mr. Hosi advised that corruption and lack of proper planning must be addressed for the continent to thrive.
Other speakers at the event included Ugandan President Yoweri Museveni, Chief Executive Officer of SEAGAL Group (Liberia) Momo Cyrus, and Nirmala Rewa from the Economic Development Board of Mauritius.
Others were the former UK Foreign Office and Cabinet Minister, Jim Murphy and UK businessman Sir Richard Heygate. The event was on the theme “Harnessing Africa’s Global Economic Appeal”.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Police declare suspect wanted over double murder near Tema Golf City
6 minutes -
Two BECE candidates injured in Nkwanta South accident, return to sit exams
13 minutes -
Climate change is a national development challenge – Issifu Seidu
16 minutes -
Twins among four nabbed for BECE exam malpractice during Science paper
22 minutes -
BoG has no separate financial stability committee to check system risks – IMF
25 minutes -
CDD, IMANI, 12 other CSOs file to join Supreme Court case challenging OSP Act
43 minutes -
Africa must shape the future of global finance, not just follow — BoG Governor
44 minutes -
Ghana to host landmark global conference on reparatory justice following historic UN resolution
44 minutes -
The price of stability : Why Bank of Ghana is breaking its balance sheet to save your bread
49 minutes -
Africa must move beyond payments to unlock next phase of digital finance – BoG Governor
52 minutes -
BoG pushes Africa beyond digital payments as fintech regulation drive deepens
60 minutes -
Human-to-human hantavirus transmission suspected on board stranded cruise ship, WHO says
1 hour -
Payments, identity, regulation and infrastructure key to Africa’s digital integration – Vice President
1 hour -
“Northern Ghana not a punishment ground” — Bernard Mornah demands Ocloo’s resignation over posting remarks
1 hour -
China calls for Strait to be reopened ‘as soon as possible’ in Iran talks
1 hour