African countries need to go global

WINDHOEK – Prime Minister Nahas Angula has expressed concern that not much progress has been made to enable African countries to become more competitive and meaningful players in the global marketplace.

The Premier was addressing Governors of the African Association of Central Banks (AACB) at its 30th Assembly, on what role Central Banks should play in this process.He said empirical evidence clearly showed that Africa plays a marginal role in the world economy, especially in the area of trade and investment flows. He said according to a recent study by the United Nations Conference on Trade and Development, Africa’s share of the world merchandise exports fell from 6,3 per cent in 1980 to 2,5 per cent in 2000 in value terms.According to Angula the reasons for this inability include supply constraints, infrastructure bottlenecks, a narrow industrial base and shortage of appropriate skills.NampaHe said according to a recent study by the United Nations Conference on Trade and Development, Africa’s share of the world merchandise exports fell from 6,3 per cent in 1980 to 2,5 per cent in 2000 in value terms.According to Angula the reasons for this inability include supply constraints, infrastructure bottlenecks, a narrow industrial base and shortage of appropriate skills.Nampa