The truth is that poverty, hunger and diseases in Africa are inextricably linked and cannot be separated. Desease treatment and disease prevention require not only investment, research, cutting edge technologies but also commitment. Resolving the three does not come on a silver platter. Africans should be committed to do that no matter the difficulties to be encountered in achieving that objective. The opportunity cost to implement these measures/objectives today will be greater if Africans shelve this responsibility to later. Today we have Institutions of higher education, research institutions, stakeholders and academia on the continent that have not lived up to expectations. It is for this reason that I have called for the processing of the bulk of natural resources in Africa, an overhaul of farming practices geared towards increase agricultural productivity and export diversification platforms in Africa. Value addition methodologies will not only create jobs in Africa but will extend the “shelf lives” of processed goods unlike their unprocessed counterparts like oranges, pineapples, cocoa, vegetables, coffee, maize, millet etc (mainstay of African economies today) and simultaneously boost food security on the continent. Canned food can last longer and value more and can also create multiple jobs simultaneously. Value added goods could also open the floodgates for the granting of patents to African inventors and researchers. The African local currencies will be strengthened vis a vis other foreign currencies to jump start the fragile African economies and consequently improve the standard of living of millions of Africans. This will bring about a drastic reduction in poverty. Further it is the same research prone African ideals that will further aid in the creation/manufacturing of medication, cutting edge technologies in disease prognosis and therapy. It is the same research prone African ideals that will also uplift traditional medicine that abound in Africa today. Most of the ingredients for the creation of medicines globally can be traced to Africa. All Africans need to do is to add higher value to these natural ingredients for the domestic treatment of ailments and for commercial purposes/international trade. The wealth of a nation to a large extent depends on the cash inflow from foreign countries (from export sales) as against cash outflow (expenditure related to the purchase of expensive value added goods from abroad). In a situation where the value of your cash inflow is greater than the value of your cash outflow, the country in question will experience a balance of payment surplus and improved standard of living for millions of Africans. Conversely if African States get a balance of payment deficit that will mean national debts, unemployment, inflation and weak national currencies like most African countries are experiencing today. Further, diversified economies (case in point, the economies of industrialized countries) can withstand global shocks much better than fragile economies in Africa that are not diversified. Yes poverty, hunger and diseases are inextricably linked and should be seen in that perspective when it comes to solving the myriad of problems facing the African continent. For a limited period read my book for free to unravel contemporary impediments facing Africa and the developing world and subsequently unearth proactive longstanding solutions to these obstacles. TRANSFORMING THE ECONOMIES OF DEVELOPING COUNTRIES $0.00 Kindle Purchase! Borrow this book for free on Kindle, a must read! This book has special applications to farmers, stakeholders, academia, NGOs, policy makers, environmentalists and all progressives in Africa, Asia and Latin America. Rush in to get your free copy! Thanks for your patronage! http://www.amazon.com/-/e/B008MMY74S
While prayers and the recognition of God are critical in the daily lives of Ghanaians, Ghanaians should know economic prosperity will not drop from the heavens and transform Ghana. Incidentally this equally applies to both developed and developing countries. Ghanaians will need to make that happen….which is… there is the need for a paradigm shift whereby all stakeholders, the formal sector, the informal sector, public and private sectors, institutions of higher education, the government and all political parties recognize to add higher value to what God had endowed on Ghana in the form of abundant natural resources before their sale on the global market. There is also an urgent need to have export diversification platforms. If these are done correctly jobs will be created from the inherent “multiplier effect” that is associated with value addition methodologies, this will strengthen the local currency the cedi as against foreign currencies, increase the “shelf lives” of processed food as against farming produce, yield more foreign exchange, improve the standard of living of Ghanaians, it will give credence to indigenous technology and open the floodgates for the award of patents to inventors and researchers in Ghana. In addition to this, it will diversify the economy of Ghana.
Diversified economies are more capable of withstanding global shocks than economies that are not diversified like Ghana’s. The reason why countries like Japan, China and Germany are rich is simple: they have added higher value to natural resources before their sale on the global market; that is shifting from low tech goods to high tech goods.
Question….why will a small country which has much less natural resources than Ghana for example LUXEMBOURG in Europe have GDP per capita standing at $80,200 (2012 established) and is ranked 5th globally while Ghana with all its natural resources is ranked in terms of GDP per capita income 173rd with GDP per capita standing at $3,300 (2012 established)? Conversely let us get closer home. How do we explain the phenomenal economic gains of Mauritius and Botswana? Since independence in 1968, Mauritius has developed from a low-income, agriculturally based economy to a middle-income diversified economy with growing industrial, financial, and tourist sectors with GDP per capita standing at $15,600 and ranked 85th globally (CIA World Fact Book 2012, established). Further, through fiscal discipline and sound management, Botswana transformed itself from one of the poorest countries in the world to a middle-income country with a per capita GDP of $16,800 in 2012 and ranked 80th globally. These rich countries have done what they needed to do economically and strategically by adding higher value to natural resources/services and have successfully and consistently embarked on export diversification platforms (CIA World FactBook, 2012). Yes Ghana can do it with a paradigm shift! Of course this transformation has to take place in an atmosphere of probity, accountability, morality and integrity. Religion becomes paramount especially in macroeconomics in Ghana whenever it is allowed to give a deeper meaning to probity, accountability, integrity and morality in the transformation of the economy of Ghana by all stakeholders, government officials, researchers, NGOs, the private sector, public sector, the informal sector, the formal sector and International organizations willing to give Ghana a hand in this significant process.
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