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Building a sustainable Africa
Africa must position itself as a respected, developed, and growing economies across major sectors. A look at some of the fastest industries include Agriculture, Telecommunication, Banking, Infrastructure, and Oil and Gas. Most African countries rank among the top sources mineral resource with agriculture, with one quarter of the world’s arable land being in Africa.
Agriculture takes up 15 percent ($100 billion annually) of the whole continent’s GDP and is also the largest economic sector. Two countries, Nigeria and Egypt are known to make up one-third of Africa’s total agricultural output. Africa has a potential of producing more of agricultural output but sees less than 10 percent as its total output.
A vast number of nations worldwide depend on oil and gas from Africa. The demand for oil and gas keeps increasing thereby making it hotcake. Projects in this sector have attracted investors and companies to invest massively. They go on to build refineries, onshore and offshore services, build depots and employ workers. Companies have fared well in this sector, so they give back to their communities by putting infrastructures like schools and roads in place. It also makes a good number of the continent’s revenue.
There has been a major turnaround in various sector causing Africa to experience a new economy. Africa needs to mobilize its resources to build a sustainable continent through infrastructure development, affordable healthcare system for all, inclusive and equitable quality education and refocus its efforts in eradicating poverty.