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Tuesday, 13 January 2015

Africa in 2015: Expect a lot of Growth.

Africa is not a country. Therefore, it would not be advisable to make sweeping generalisations as regards the whole continent. However, there are broad areas where Africa could excel in, and emerge even stronger this year. According to the World Bank and several respectable publications, Africa will grow at much faster rates, and will be the continent to watch in the coming decades. So, how then can the continent grow much faster, realise greater economic gains, and ensure that it lifts its people out of poverty.

As a first step, we have to ensure that we educate African youngsters with the right education. The quality of education from kindergarten all the way to the universities will have to be improved. By having a higher quality of education, we would be ensuring that we keep the continent on a positive growth trajectory. Educated and skilled young Africans could be the panacea to many of the continent's woes. A skilled and educated workforce could enable more young Africans get clean, decent, and rewarding jobs, and besides, these young Africans could be empowered to start their own businesses, and in the process, creating more
wealth and prosperity for African economies. There are over 3 million college and university graduates that are being churned out of African universities every year, and this number is expected to rise. So long as the quality keeps on improving, we would in due time be able to realise better gains as a continent.

As a matter of priority, we must also ensure that we observe the rule of law. This will make businesses feel protected, as stability will be improved. During times of elections is when most investors flee from the continent, and in the process, increasing the capital flight from Africa. In tandem with the rule of law, we must enhance the climate for doing business around the continent. There is no reason why there are so many licenses needed to start a business, when all the processes could be centralized. As the climate for doing business increases, there will be more jobs and wealth created.

Finally, we must encourage more people to go back to the farms, as sooner rather than later, food will be the new gold. More young Africans must be encouraged to go back to the farms, so that they can increase the food security in the continent, and also, halt the rampant rural urban migration. With these steps, Africa will be on a positive growth trajectory, and will be able to prosper in many avenues in 2015 and beyond.

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