economics traders koforidua

Africa should continue focusing on opening up its economic spaces and markets, as this is essential for long-term growth, a development specialist said on Monday.

Fumpa-Makano, a lecturer at Copperbelt Univieristy’s Dag Hammarskjold Institute for Peace and Conflict Studies, urged developing countries particularly those in Africa to continue investing in programs that promote technology and skills transfer, stating that such leads to industrial growth resulting in economic boom.

“This is why it is important to encourage a range of investments including the setting up of factories by entities from across the globe so that there is both technology and skills transfer as well as job creation,” Fumpa-Makano said.

Fumpa-Makano said that China, for instance, has undergone a shift from a largely agrarian society to an economic and industrial powerhouse because it opened up its economic spaces.

According to her, China’s rapid rise over the past years is one of the most striking examples of the impact of opening an economy up to global markets and focusing on lasting benefits. Enditem


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.