President Akufo-Addo interacting with President Paul Kagame
President Akufo-Addo interacting with President Paul Kagame

Africa’s inability to transform its economy is not due to lack of the resources it needed to pursue a successful economic transformation agenda, President Addo Dankwa Akufo-Addo argued here on Thursday.

Addressing the final session of the two-day African Transformation Forum (ATF) which saw two African heads of state and a Vice president attending, the Ghanaian president was emphatic that what Africa needed was how to deploy these resources in the right way.

For him the main issue about transformation was how to lift African people out of poverty and arrive at the goal of prosperity.

“We look at our continent we have so many things that should make it possible for that transformation to have already been effective but unfortunate it has not been,” Akufo-Addo observed.

He added that 50 percent of the world’s arable land was on the continent; over 30 percent of the remaining minerals of the world were also on the continent, while Africa also boasts the youngest and the most vibrant population of all the continents in the world.

“Put all these things together our situation should be so much further on the road than it is. But we are facing the reality and the reality requires that the three key components in the whole paradigm of development work in sync and in tandem,” the Ghanaian president added.

The three ingredients he said included: what government could do to create the enabling environment for transformation; what private sector could also do with the enabling environment created; and what the larger civil society could also do to support growth.

In his intervention, Rwandan President Paul Kagame pointed out that the continent had no justification to be as poor as it was.

“We have not found justification for saying that Africa has this abundance of all kinds of resources, whether human or natural resources, and yet continues to be poor, decade after decade, and discussions after discussions. . It is about how we invest in our people; manage our resources, and it is how we bring these together- and the goals are achieved together as a continent,” he urged.

The annual forum organized by the African Center for Economic Transformation (ACET) also saw the Vice President of La Cote d’Ivoire Daniel Kablan Duncan and Africa’s richest man, Aliko Dangote attending on the final day.

Business executive, Yaw Nsarkoh urged African countries to learn to translate their thoughts and plans into action.

According to him it would take governments which were able to do the things that they say they will do on time and in full for Africa go progress, while those caught in the paralysis of conversation would go nowhere.

Nsarkoh urged the private sector to work with the public sector to identify bottlenecks to private sector development and be able to deal with them permanently. Enditem


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