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:
Latest Stories
-
A Plus’ threat is laughable, I’m not a thief and have nothing to hide – AG
27 seconds -
Pan-African business forum announces new senior appointments
17 minutes -
Is the NPP struggling to hold the NDC accountable in its first 120 days? – Prof. Boadi
18 minutes -
AG to file criminal charges in Sky Train, NSS ‘ghost names’ scandals next week
29 minutes -
Australia-Africa Partnership for Climate-Responsive Agriculture: A $76m investment
34 minutes -
Exam malpractices threaten national security, workforce competitiveness – WAEC
46 minutes -
Fear grips residents of Akatakyieso after ‘unauthorised’ taskforce invaded mining firm, assaulted workers, stole gold bars
51 minutes -
Dr. Eric Tutu Tchao: “What are the most important problems in your field, and why aren’t you working on them?”
1 hour -
I disagree with calls to suspend ‘Thank You’ tour – Nana B
1 hour -
KNUST students develop smart syringe pump for managing fluids during surgery
1 hour -
We resist linking Unity Hall stabbing to perceived Bawumia-Kennedy Agyapong rivalry – Nana B
1 hour -
‘Interesting times ahead for Judiciary’ – Frank Davies on Mahama’s SC nominations
1 hour -
Most of the charges will lead to conviction – AG confident over Adu Boahene case
1 hour -
Adu Boahene case: Mahama fully informed, I can’t mislead him – AG
2 hours -
GHs1m illegally paid monthly to Adu Buahene for GWCL internet – AG
2 hours