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By Iddi Yire / Emmanuel Todd, GNA
Accra, July 6, GNA – Professor Sir Paul
Collier, a world-renowned economist for development, called on Africans to
make the development of its young population a priority by creating a
a prosperous future for them.
Sir Collier said this in his address to the
Public lecture series of the Institute of Economic Affairs (IEA) in Accra, held under
the theme: "Africa: Old obstacles, new opportunities".
The conference was organized as part of
The mission of IEA is to promote good governance in Ghana and Africa.
Prof Sir Collier is the current director of
International Growth Center, the director of the Center for the Study of the
Oxford University's African Economies and Former Director of the Research Center
Development Department of the World Bank.
He said that the new opportunity for Africa was
his young demographics with the rest of the world is becoming essentially short of
youth.
Prof. Sir Collier, who described Africa as
the continent of youth, suggested that what Africa needed now was a change in
its business structure to accommodate the young population.
He said that agriculture in Africa should be
modernized to make it more attractive to young people.
According to the United Nations, African countries
youth population is growing rapidly and is expected to reach more than 830 million people
from here 2050.
Whether it's the promise or the peril depends
on how the continent manages its "youth circle".
The World Bank has stated that 40% of
people who join the rebel movements are motivated by the lack of economic opportunities.
Prof Sir Collier said: "Ghana is the
first to get independence and can pave the way for Africa just like with the
how they manage their natural resources. Just as China copied South Korea.
Ghana can be a pioneer for other African countries.
He said that the management of the public expenditure process was
very difficult, saying that "what we need is a very good ability to
public investment ".
"Do not borrow on petrol from oil
and spend it on consumption. Do not borrow and consume, save and invest, "he said.
added.
He stated that a major challenge in the development of a
country was the way to finance its economy.
"Ghana has a lot of natural resources that
could potentially be used to create opportunities for the future. We need
equip our young people with skills and physics
infrastructure, "said Professor Sir Collier.
Dr. Charles Mensa, Founder and President
of the IEA, called for the creation of the appropriate framework for the nation
natural resources to generate enough income for its socio-economic development.
He said that the governance of the nation
natural resources are in the hands of Ghanaians and not its development
the partners.
Nana Kobina Nketsia V, the supreme leader
of the Essikado traditional zone in the western region, which presided over the function,
says we do not walk on gold and always be stained with poverty.
"If you walk on the gold and you are still
stained with poverty, it means that there is something wrong with your
head."
He asked why Ghana was still strongly
in debt, but Ghanaians have walked on gold.
Nana Nketia called for the judicious use of
Africa's natural resources for the benefit of its people.
GNA
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