Politics
Africa must tap into global markets more effectively
According to Mario Pezzini, Director of the OECD Development Center, “African economies have a great potential to build on their demographic dynamism, rapid urbanization and natural-resources assets. The challenge now for many of them is to ensure that greater insertion into global value chains is achieved and has a positive impact on people’s lives.”
He then went on to say, “Public policies need to be articulated in a targeted strategy that promotes more equitable economic and social transformation and an environmentally sound development.” The African Economic Outlook shows that there has been remarkable progress in human development, with lower poverty levels, rising incomes and improving rates of school enrollment and health coverage.
Furthermore, achieving real human development gains requires empowering people and ensuring environmental sustainability so that economic growth can yield benefits for all. In order for value chains to effectively integrate the poor and marginalized, often including women, targeted public policies and inclusive business models should facilitate access to productive assets such as land and financing, enhance productivity, and improve the resilience of small producers.
“As engagement with global value chains deepens, the appropriate measures need to be in place to mitigate the risks which they can bring about, such as volatile prices, unfair competition and increased vulnerability,” said Pedro Conceição, Chief Economist at UNDP’s Regional Bureau for Africa. He went on to conclude, “While regional and global economic networks present immense opportunities, women, men and communities must be able to compete from a position of strength.”
Source: Biztech Africa
