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XINHUA NEWS SERVICE REPORTS FROM THE AFRICAN CONTINENT

 

Ghana’s president urges Africa to
transform stagnant, jobless economies   

ACCRA (Xinhua) -- Ghana’s President Nana Akufo-Addo said Tuesday that Africa needs to build value-added, industrialized economies with modernized agriculture that takes full advantage of the digital revolution to create wealth and prosperity for its citizens.

Africa has the world’s second fastest economic growth rates, the world’s fastest-growing region for foreign direct investment, and has nearly 30 percent of the earth’s remaining mineral resources, with a young, vibrant population, Akufo-Addo said while delivering the keynote address at the 5th German-African Economic Forum held in Dortmund, Germany.

In order to create prosperity for the continent, Akufo-Addo urged African governments to prioritize changing the structures of their economies that were dependent largely on the production and export of raw materials, according to a press release issued by the Ghanian presidency.

“It is this reliance on raw material exports that feeds our dependence on foreign aid, and subjects us to the politics of the West,” he said.

The willingness of many African youths to cross the Sahara desert on foot and drown in the Mediterranean Sea in a desperate bid to reach the mirage of a better life in Europe should serve as a wake-up call for Africa’s governments, Akufo-Addo said.

“Africa needs to transform stagnant, jobless economies, built on the export of raw materials and unrefined goods to value-added economies that provide jobs to build strong middle-class societies and lift the masses of our people out of dire poverty,” he said.

“We can only do so if we participate in the global market place on the basis not of the exports of raw materials, but on the basis of things we make,” the Ghanaian leader said. 

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