Owusu-Gyamfi: Transforming Africa’s economies key to resilience

The incoming President and CEO of the African Center for Economic Transformation, Mavis Owusu-Gyamfi, has emphasized that transforming Africa's economies is crucial to enhancing the continent's resilience to global shocks. Speaking with CNBC Africa at the Annual Meetings of the African Development Bank in Kenya, Owusu-Gyamfi highlighted the necessity for Africa to focus on becoming export-competitive by leveraging its areas of comparative advantages to drive economic growth. Owusu-Gyamfi's stance on the need for Africa to transform its economies is in line with her vision to see the continent become more self-reliant and less vulnerable to external economic disruptions. With a focus on export competitiveness, Africa can position itself to withstand global shocks and establish sustainable growth pathways. In her interview with CNBC Africa, Owusu-Gyamfi stressed the importance of industrialization and diversification as key strategies for African economies to enhance their resilience. By investing in sectors where Africa has a competitive edge and promoting value addition to its resources, the continent can build a robust economic foundation that can withstand external pressures. Moreover, Owusu-Gyamfi underscored the significance of fostering intra-Africa trade and regional integration as essential components of transforming the continent's economic landscape. By creating a conducive environment for trade among African nations and removing barriers to commerce, the continent can unlock new opportunities for growth and development. By championing export competitiveness, industrialization, diversification, and intra-Africa trade, Owusu-Gyamfi aims to drive Africa towards economic transformation and resilience, positioning the continent for sustained progress in the face of global challenges. Her leadership at the African Center for Economic Transformation signals a commitment to fostering change and prosperity across the region. As Africa navigates the complex dynamics of the global economy, Owusu-Gyamfi's strategic approach to economic transformation emerges as a pivotal factor in shaping the continent's future. By harnessing Africa's strengths and leveraging its potential, she envisions a path to economic resilience and prosperity that can withstand the tests of time and external pressures.