By Ahmed Kaballo
Without a shadow of a doubt, Africa has a huge potential of becoming a world leader on various aspects, ranging from economy, to technology, and culture. There are a number of factors however that have kept the continent from realizing its true potential, and adopting a number of key strategies could help to remedy this situation.
One of the strategies that needs to be adopted to boost the continent’s productivity is to prioritize education. Investing in education and providing access to quality education for all will help to build a skilled and knowledgeable workforce. This will help to drive innovation and entrepreneurship, leading to the development of new technologies and businesses.
Second, the African continent needs to focus on infrastructure development. This includes building roads, bridges, ports, and other transportation networks to support trade and commerce. It also involves investing in clean energy and developing efficient energy systems to meet the needs of a growing population and to support economic development.
Third, the African continent must work to improve governance and political stability. This includes reducing corruption and ensuring the rule of law is upheld, which will create a more favorable business environment and attract foreign investment. The recently released Mo Ibrahim report on Africa’s governance and leadership index revealed worrying trends, for instance, the report indicated that Africa is less safe and more undemocratic than it was a decade ago. We must elect leaders who are development – centric and forward thinking if Africa is to sit on the throne that is really ours to take.
Fourth, the African continent must focus on promoting entrepreneurship and supporting small businesses. Today, business laws and regulations in majority of African countries make it even harder for young people and individuals to formally incorporate their businesses, locking them out of funding opportunities that could change their fortunes. We must work to refine these laws to fit the African market’s needs. This will help to create jobs and spur economic growth.
The African continent must also focus on developing its agricultural sector, which has the potential to be a major source of food security and economic growth.
Finally, the African continent must work to improve health and wellbeing. This includes investing in healthcare infrastructure and improving access to medical services and treatments, as well as addressing health challenges such as infectious diseases and malnutrition.
In conclusion, the African continent has the potential to become a leader in the world, but this will require a concerted effort from governments, businesses, and communities. By prioritizing education, infrastructure development, governance, entrepreneurship, and health, the African continent can create the conditions necessary for economic growth and prosperity, and ultimately, become a leader on the global stage.
The writer is CEO and Founder of African Stream
