Ramaphosa: Time to own the economy
AFRICANS must not only pursue accelerated growth and benefit from it, but should take ownership of this growth, Deputy President Cyril Ramaphosa said at the close of the World Economic Forum on Africa.
“They must own, control and direct the levers of economic activity. There is an understanding of the urgency with which we need to address exclusion, inequality and unemployment.”
The key to speeding up inclusive growth was placing the African child at the centre of economic policies on the continent, Ramaphosa said.
“For it is in the mind of the African child that the future of this continent resides. It is only by developing the capabilities of our young people that we will achieve the inclusive economic growth that we seek and the development that we need.”
The promotion of science and innovation in Africa would also contribute to efforts to reduce poverty and promote development, while access to education should be broadened to benefit not only the emerging middle class.
“By building networks of knowledge across the continent, by pooling resources and by developing shared research capacity across different African countries, we are creating a new scientific ecosystem.
“We need to focus on the education of girls and young women, addressing the social, cultural and economic factors that limit access to education.”
While Africa possessed considerable mineral resources, to gain greater economic value, its people needed the skills to process these resources.
“The mineral resources, though abundant, are finite. They are prone to massive fluctuations in demand and price. Unless we have the technology, the knowledge and the industrial capacity to beneficiate these resources, our people will only derive a fraction of their true economic value.” – ANA