Audio By Carbonatix
The 2013 edition of the Economic report on Africa by the UN suggests that Ghana together with eight other African countries can become global economic powers through massive industrialization.
The report says African countries must individually or collectively embark on a bold transformation to take charge of its own development.
According to the report titled: "Making the most of Africa’s commodities, Industrializing for growth, jobs and economic transformation”, extensive political and economic changes over the last fifty years have set the stage for Africa to come out as a global economic power.
The research cited Ghana, Algeria, Cameroon, Egypt, Ethiopia, Kenya, Nigeria, South Africa and Zambia, suggesting that massive industrialization based on the commodity sectors of these countries is important, possible and beneficial.
The report further argued that Africa’s success lies in “effective industrial policies and commodity-based industrialization, strengthening industrial linkages to the commodity sector”.
It also outlined designs for industrial and other developmental policies to promote value addition, economic transformation and to reducing dependence on producing and exporting and exporting non-processed commodities.
The report advised Africa to address the reasons why stronger growth and trades have not stimulated job creation, diversification of the economy and social economic development.
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.
Tags:
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
-
51km of Accra-Kumasi Expressway corridor cleared; compensation plans underway – Finance Minister
27 seconds -
AfDB forecasts 5% GDP growth for Ghana as macroeconomic indicators strengthen
4 minutes -
Menstrual poverty: United Pension Trustees calls for an end to menstruation stigma
26 minutes -
Vaccine survey reveals strong public confidence as Ghana pushes local manufacturing agenda
31 minutes -
Ghana Navy, NPA intensify crackdown on illegal fuel smuggling network
31 minutes -
Weija Dam spill gates opened as Ghana Water warns of flood risk
38 minutes -
See shimmering new satellite image of Lake Bosomtwe showing gold glitters surrounding it – Earth from space
47 minutes -
ECG restores power at Tanyigbe SHS after week-long outage
57 minutes -
Bolivian president warns country at ‘breaking point’ after month of protests
2 hours -
Jill Biden says she thought husband was having a stroke during 2024 debate
2 hours -
Countries tighten travel rules as Ebola risk rises
2 hours -
Gold hits two-month low as US-Iran tension stokes inflation fears
2 hours -
Toyota sales drop for third month on declines in China, Middle East
2 hours -
Trump refiles $10bn defamation suit against WSJ over report on Epstein ties
2 hours -
Kenya school fire kills at least 10 students, media say
2 hours