President John Dramani Mahama has called for a radical shift in Africa’s economic model, urging the continent to move away from being a mere exporter of raw materials and focus instead on industrialisation and value addition.
At the Third African Prosperity Dialogue in Accra, he pointed out that while Africa has an abundance of natural resources, it is essential to process and add value to these resources locally.
“We must move beyond being exporters of raw material to become producers of finished goods,” Mahama emphasized, listing examples such as cocoa in Ghana, oil in Nigeria, copper in Zambia, and diamonds in Botswana.
By processing and adding value to these raw materials, African countries will not only create jobs but will also increase their share of global trade.
President Mahama argued that industrialisation is critical for Africa’s economic transformation.
“We must process and add value to our natural resources. By so doing, we will not only increase our share of global trade, but also create sustainable jobs for our people, especially our young people,” he said.
By: Shadrack Odame Agyare | Metrotvonline.com | Ghana
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