Global Conference on Structural Transformation in Africa opens

Prof. Ernest Aryeetey addressing the conference

The Global Development Network’s (GDN) 15th Annual Global Development Conference on the theme “Structural Transformation in Africa and beyond,” opened in Accra on Wednesday.

The three-day conference, aims to achieve a better understanding of the nature and prospects of structural transformation in Africa, drawing on insights from other transformation experiences around the world.

It would, therefore, foster dialogue among researchers and practitioners whose work focuses on Africa.

The GDN is a global platform for young researchers to showcase their research and benefit from interaction with world renowned policymakers.

Therefore, the conference would provide an international platform for promising young researchers from developing countries, to showcase their research and benefit from interaction with world renowned academics and policymakers.

Participants from more than 180 countries are attending the conference, which is being held in partnership with the African Capacity Building Foundation, African Economic Research Consortium, University of Ghana and United Nations Economic Commission for Africa.

Professor Pierre Jacquet, President of the GDN, said the African continent had undergone major transformation over the last two decades.

However, the transformation has been at play with its host of structural, political, economic, social and human challenges and of course big questions on whether and how such growth may be sustainable, not only from an economic and social, but also from an environmental perspective?.

He said the growth has been buoyant, and in the face of an international environment deeply and durably affected by the 2007-2008 financial crises, Sub-Saharan Africa has experienced an average real rate of growth of about five per cent since 1995 and has been able to sustain such growth in the recent years. 

He said in seeking for solutions to these challenges in Africa, it is crucial to take lessons from how transformation has been taking place in other parts of the world, such as in Latin America, Asia, Central and Eastern Europe.

Panelists at the session agreed that inspite of the numerous progress in Africa there are still huge gaps in productivity and services, with associated problem of increasing urbanisation.

Africa, they said, is growing rapidly, but transformation has been relatively slow, and called for stronger transformational structures to develop infrastructure and link agriculture, which has been a major backbone to most economies, to industry for real growth in Gross Domestic Product.

Professor Ernest Aryeetey, Vice Chancellor of the University of Ghana, said African countries could achieve significant socio-economic growth and corresponding impact on global markets by strengthening industrial policies to make them more competitive.

He said these could only be achieved through structural transformation which emphasises on movement from low to higher productivity sectors such as manufacturing to create employment, add value and improve local revenue as well as foreign income for the country.

With emphasis on transforming the agricultural and service sectors of Ghana’s economy, the Vice-Chancellor said to meet these objectives there must be greater and sustained transformation in for example the agricultural and manufacturing sector, which is a critical engine of growth for most African economies.

He said the need for modernisation of present agricultural systems to make them more attractive to especially the youth is key to sharpen their skills through massive education for absorption into the manufacturing sectors.

The three sub-themes of the Conference would be looking at the determinants of growth, industrial and trade policies; Environment sustainability, management of natural resources and structural transformation; and Political, institutional, social and governance transformation.

Papers presented at the 15th Annual Global Development Conference will be published in the GDN Conference Journal which will be disseminated to GDN's extensive international network of partners.

(GNA)