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Professor Sir Paul Collier, a world-renowned economist, called on Africa to prioritize the development of its young population by creating a promising future for them.
According to him, the new opportunity for Africa was his young demographics, while the rest of the world was running out of youth, indicating that Africa might benefit by changing its business structures to accommodate the young population.
This, he said, would allow the continent to be a major source of manpower in other parts of the world to improve its progress.
IEA
Sir Collier stated this in his address to the public lecture series of the Institute of Economic Affairs (IEA) in Accra on the theme: "Africa: old hurdles, new opportunities".
The conference was organized as part of the IEA's mission to promote good governance in Ghana and Africa.
"According to the United Nations, the population of young Africans is growing rapidly and is expected to reach more than 830 million people by 2050. Whether this is a promise or a threat depends on how the continent manages its youth expansion," he said. did he declare.
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Natural resources
Professor Sir Collier, who is currently Director of the Center for International Growth and the Center for the Study of African Economies at Oxford University, also urged Ghanaians to be pragmatic in the management of of their natural resources so that every sector of the economy would benefit.
"Do not borrow the essence of oil and spend it for consumption Do not borrow and consume, save and invest Ghana has many natural resources that could potentially be exploited to create opportunities for the future, "he said.
He called for the creation of an appropriate framework for the country's natural resources to generate enough revenue for its socio-economic development, adding that the governance of the country's natural resources was in the hands of Ghanaians and not its development partners.
Judicious use of resources
The supreme chief of the traditional zone Essikado of the western region, Nana Kobina Nketsia V, also declared that it was not appropriate that Ghana, with sufficient resources, be entangled in poverty, adding that "If you walk on gold and you are still stained with poverty, it means that your head has an absolute problem. "
He called for the judicious use of the nation's natural resources for the benefit of the country in order to improve the living conditions of each individual.
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