Harnessing the Power of Globalization for African Development

This address highlights how Africa can take advantage of the current wave of globalization to accelerate its development efforts. The central theme is that African countries should not be afraid to open up their economies to globalization because openness confers several benefits, including technology transfers, expanding markets for African exports, and employment creation. However, to be able to take advantage of the benefits of globalization, African countries need to improve their domestic environments, especially in the areas of governance, institutions for policy formulation and implementation, resource allocation, and the training and use of human capital.