General News of Thursday, 5 October 2017
The Vice President, Dr. Mahamudu Bawumia has revealed that the economic woes of Africa is due to the lack of productive capacity building of its citizens.
According to him, countries with stronger economies pay much attention to developing the technological, intellectual and institutional capacities of its people.
On the part of Africa, Dr. Bawumia described as unfortunate the historical economic setback on the continent drawn from resource exploitation, failure of countries to utilise export revenues for industrialisation and the lack of improving the standard of education.
These shortfalls, according to the Vice President has rendered the continent with a non-resilient, weak and undiversified economy.
Dr. Bawumia made the comments while speaking at the third institutional advancement lectures of the University of Cape Coast which was on the theme, “Building Stronger Economies for the African Continent, the missing link”.
Dr. Bawumia noted that for the continent to be resuscitated from its economic slumber, there is the need for African countries to develop the productive capacities by developing skills and knowledge capacities of its citizens as well as that of government institutions.