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President Nana Addo Dankwa Akufo-Addo urged the World Bank and the IMF to partner with African countries to mobilize more of their resources for national development.
This, said the President, would allow Africa to realize its dream of an autonomous continent that would no longer depend on the receipt of aid and charity.
Addressing Thursday at the meeting of African governors of the World Bank and IMF for African countries, President Akufo-Addo said the state of self-sufficiency informed the recent strategic partnership between Ghana and Ivory Coast, aimed at defending the collective interests of their cocoa producers. and the development of their economies.
The president said it was imperative that Africa efficiently harness its resources and deploy them creatively and effectively for rapid economic and social transformation.
"We need a lot of resources to generate the prosperity we want in Africa."
President Akufo-Addo said that Africa holds 30% of the world's remaining minerals and a major player in global coal, oil and gas production, but most resources are exported to Africa. 39, gross state, adding that "Africa does not pull its fair share of the values of these resources."
The Chair noted that this paradigm should be corrected to allow African economies to move from commodity-producing and exporting economies to value-added economies and industrial activities, rooted in manufacturing and culture in Africa.
In this regard, the creation and the important role to be played by the African Continental Free Trade Area (AfCFTA) have, according to the President, badumed catalytic proportions.
It will be recalled that the West African Free Trade Agreement became operational this month after the AU Extraordinary Summit in Niamey, capital of the Republic of Niger. Fifty-four (54) of the fifty-five (55) African countries signed the agreement and 28 ratified it. It took twenty-two (22) ratifications for it to be operational.
Describing AfCFTA as a decisive lever to turn Africa into a situation beyond aid, President Akufo-Addo said that the intensification of trade and investment stemming from the free-trade zone is boosting considerably the industrialization and agricultural modernization efforts of the continent.
"Prosperity will also come from the free movement of skilled Africans, crossing the continent to better use their talents, and contributing to growth and prosperity here in Africa rather than on other continents," he said. added.
In terms of creating jobs for young Africans, the president said it was the structural transformation of African economies that would create jobs for the teeming mbades of young Africans.
Africa is the youngest in the world, with a median age of 19.5 years. By 2050, the African population is expected to reach 2 billion, half of whom will be under 25 years of age and 25% of the world's largest workforce, compared to 14% in China and 7% in the world. % in the world. Europe .
This, he explained, is both a challenge and an opportunity.
"This is an opportunity for a young and dynamic workforce to lead African economies and make the continent a driving force in the global economy," said President Akufo. -Addo.
He continued, "The challenge is to provide this growing population with education, skills, digital culture and dynamic economies that provide jobs and entrepreneurial opportunities."
In Ghana, the President indicated that, despite foreseeable constraints on the country's resources, his government had made free education available in public schools, from kindergarten to upper secondary school, including technical and vocational schools.
"This has led to a rapid and dramatic expansion in the last two academic years of enrollment in high schools, with access now being offered to many people previously excluded by poverty. But we know that this is only the beginning. We will focus on building world-clbad educational institutions that will produce academics, particularly scientists, engineers, technicians and agricultural experts, who will transform our economies and create remunerative jobs ", he added.
President Akufo-Addo told the group of African governors to feel privileged to be able to take on positions that would enable Africa to realize its possibilities, opportunities that once achieved would a great boost to the expansion of the global economy, and a substantial increase in the general and global standard of living.
"We should seize the opportunity. each of us in our different positions! Together, working with the African people and with our educated, competent, dynamic and growing young people, we can build a prosperous and confident Africa, an Africa beyond aid. We can and we should; So, let's get to work!
Source: ISD (Rex Mainoo Yeboah)
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