Leapfrogging Development: The African Story
Brief
<p>“It is our duty to be confident, count on our power and to know that we have the means to solve any issue that arises.” </p> <p>Ashish Thakkar, Founder of Mara Group and Mara Foundation moderated a discussion with H.E. Alpha Condé, President of the Republic of Guinea, and H.E. Mahamudu Bawumia, Vice President of Republic of Ghana. The discussion focused on the economic opportunities, advantages, and challenges in Africa and the role of energy, infrastructure, and new technologies in supporting the economies of Africa.</p> <p>H.E. Alpha Condé said that Africa’s competitiveness relies on several factors including the rise of raw materials, education, and powerful internal markets, which help strengthen the continent’s status. For his part, H.E. Mahamudu Bawumia said that the potential for Africa is great, and gave the example of the strong African economic growth of over 5% over the last decade, and the World Bank’s estimate that Africa will be the fastest growing continent in the world in the next 5 years. He added that many governments have been trying to build a globally competitive economy, and that the way to leapfrog is to leverage on technology as soft infrastructure, not only hard infrastructure.</p> <p>H.E. Alpha Condé further referred to the importance of ensuring security in order to eradicate terrorism. He also called for working on the challenge of unemployment of the youth and enhancing free trade. He further explained how Guinea is following a sustainable development pattern, and highlighted Guinea’s efforts in implementing new technologies. He stated that the rise in population will not constitute an obstacle if enough employment is provided to young people. In the end, the two speakers agreed upon the need for African countries to adopt a “do it yourself” mindset, as HE Mahamudu Bawumia put it. They also emphasized the importance of regional integration in Africa, and expressed optimism regarding the future of the continent. </p>