Former President John Mahama has stated that even though the novel coronavirus pandemic has exposed the structural weaknesses of the economies of African countries, the economies can be brought back on track with innovative leadership and a belief in the enterprise of the African people, especially the youth.
In a message message to mark Africa Day, which falls on Monday, 25th May, Mr Mahama noted that as Africans, we must dedicate ourselves to realising the objectives of #Agenda2063, a blueprint for transforming the African continent adopted some nine years ago.
“COVID-19 has exposed the structural weaknesses of our economic paradigm as exporters of primary goods and importers of finished products.
But with innovative leadership and a belief in especially our enterprising and dynamic young people, we can and we should turn the wheels of the African Economy back on track,” he noted.
African countries continue to remain exporters of primary products to mainly the West and China. This has ensured that African countries continue to be at the mercy of the buyers who set the prices of the products.
The occurrence of COVID-19 across the African countries have had dire consequences on the already weak economies forcing many of them to borrow from the International Monetary Fund (IMF) to mitigate the countries occasioned by the disease.