Ghanian VP urges increased production capacity to address poverty in Africa

0 Comment(s)Print E-mail Xinhua, January 27, 2023
Adjust font size:

ACCRA, Jan. 27 (Xinhua) -- Africa needs to increase its production capacity to realize the dream of trading its way out of poverty, Ghanaian Vice President Mahamudu Bawumia has said.

Bawumia made the comments on Thursday in his keynote address at the opening ceremony of a three-day high-level policy dialogue on achieving prosperity in Africa in Accra, the capital of Ghana.

The African Continental Free Trade Area (AfCFTA) initiative presents the continent with a unique opportunity to increase its capacity in manufacturing and industrialization, he said, adding that Africa needs the appropriate infrastructure to achieve that goal.

"As a continent, we need to produce and trade our way out of poverty and underdevelopment, and we cannot do that without investing in smart infrastructure across the continent," Bawumia said.

While the last decades have seen some positive investments, there is still a need for additional resources to finance both physical and digital infrastructure, he said, adding that the continent needs at least 170 billion U.S. dollars annually to invest in critical infrastructure to bridge the infrastructure deficit.

These investments, Bawumia said, would be critical to delivering the success of the AfCFTA and creating the needed economic power for the youth through job creation and reducing poverty by empowering African women through trade and entrepreneurship.

The three-day "Africa Prosperity Dialogue" gathered business leaders and officials in charge of trade, economic, and other business-related sectors from across Africa. Enditem

Follow on Twitter and Facebook to join the conversation.
ChinaNews App Download
Print E-mail Bookmark and Share

Go to Forum >>0 Comment(s)

No comments.

Add your comments...

  • User Name Required
  • Your Comment
  • Enter the words you see:   
    Racist, abusive and off-topic comments may be removed by the moderator.
Send your storiesGet more from