Africa needs to begin making bold decisions to implement economic transformation programs that can take millions out of extreme deprivation, economic development experts said on Monday.
The many investment opportunities, as well as the economic potential of the continent, are yet to be fully exploited, and that implementing programs such as industrialization and developing key infrastructure to attract the right investment should be at the center of development programs, they said.
“We can no longer be a continent that is full of speech with little action. We have what it takes to attain significant economic because we are a continent that is blessed with natural resources in abundance and economic opportunities at every turn,” Misheck Mwanza, an economic development specialist, said in an interview with Xinhua.
Transforming economic fortunes of any country requires commitment from the leadership and the general citizenry, both of whom should be passionate about attaining that goal, he said.
“I think China offers the best lesson on this,” Mwanza said. “The Chinese economy is what it is today because of collective commitment to a cause and sheer perseverance.”
Oliver Saasa, a renowned Zambian economist, said Zambia’s rich and abundant natural resources are enough to bring about the economic growth that the country so aspires to attain.
It is unacceptable for a country that has all the necessary tools for economic growth and to emancipate itself to lag behind, he said.
“The immense economic potential of Zambia is well known, but transforming the economic potential of the country requires making both bold and sound decisions,” Saasa said.
Saasa recently blamed Zambia’s continued insignificant development to self-doubt, saying that the country is always depending on the western world to prescribe its development agenda. Enditem