Perspectives on Developing and Sustaining the African Economy

"Poverty Reduction, Employment Creation and Infrastructural Development"

Ede Nida Eghafona
Benin City, Nigeria
On the area of poverty reduction, employment creation and infrastructural development, the African economy is gradually headed for the rocks. Endowed with able bodied youth, fertile soil and genius minds, we are failing to harness the energies of these potentials. I propose that the African economy can develop and sustain itself in this regard.

On the aspect of infrastructural development which seems like the hardest nut to crack. Inadequate infrastructure largely frustrates growth and development, resulting in low levels of intra African trade and trade with other regions. The continent accounts for 12% of the world’s population but generates a mere 1% of global GDP and only 2% of the world’s trade. It has been noted that six out of the ten of the World’s most rapidly expanding countries are located in sub Saharan Africa, bringing more reason for quick infrastructural development and sustenance.

If government can facilitate better access to essentials of production like capital, land and workforce; if the African states pay close attention to creating room for resources to develop and sustain infrastructure as well as entrepreneurial development, the infrastructural sector will take a turn for the better and eventually the “best”!

 Industries should be set up and maintained, then the essentials of production should be channelled into the agricultural sector. This, if properly developed and sustained, can be one of our biggest bets. Capital should be channelled to people who propose very promising business plans. The educational sector should also be structured in a way as to prepare people to be capable of being self-employed. If infrastructure can be developed and sustained, and the workforce is available, the yield will be massive! More employment and poverty reduction will follow because the infrastructure will need a workforce. 

It will be amazing to see how one stone can kill ‘’THREE’’ birds! We cannot totally eradicate these three drawbacks in our African economy but we can gradually steer them towards a massive decline using our African capabilities, fertile soil, genius minds and the strength of our character.

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