Following the recent World Bank report on the ten fastest growing economy, which sees six African countries featuring prominently at the top end, the managing director of CEOAfrica, Prince Cletus Illobanafor has lauded the development.
He noted that this proves what many had always known that the continent is blessed with mineral and natural resources and has all it requires to be great. He called on Governments across Africa to take this as a challenge in addressing the developmental needs of their nations especially as it concerns the economy.
According to him, as things stand presently, African Head of States and policy makers do not need to look too far for a workable and sustainable model to building a solid economy as a couple of our sister-countries have shown that with implementation of the right policies and political will Africa can get it right and reposition the continent as a world economic power.
In the latest World Bank report, Ghana emerged the fastest growing economy in the world, that certainly did happen by accident. Upon assuming office as President of Ghana, Nana Addo Dankwa Akufo-Addo laid out a development plan centred on managing the nation’s resources and building an economy independent on foreign aid – one he refers to as building ‘Ghana beyond aid’.
At the 5th edition of the Africa CEOs forum in Switzerland President Akufo-Addo said, “We want to build a Ghana beyond aid, a Ghana which looks to the use of its own resources. We want to build an economy that is not dependent on charity and handouts, but an economy that will look at the proper management of its resources as the way to engineer social and economic growth in our country.”
The result of that commitment is an 8.3% growth rate for the economy of Ghana for 2018. Other African leaders can certainly borrow a leaf from Ghana’s success story in their quest to developing their nation’s economy.