The Director-General of the World Trade Organization (WTO), Dr. Ngozi Okonjo-Iweala, has called for the implementation of drastic measures to boost African economies.
Addressing policymakers, investors and business leaders at the 7th Africa Emerging Markets Forum, Okonjo-Iweala also challenged African governments to invest aggressively in artificial intelligence (AI), renewable energy and critical mineral value chains to shield their economies from mounting global shocks and unlock long-term prosperity.
She argued that the continent could no longer rely on exporting raw commodities while other regions captured the wealth created through technology, manufacturing and innovation.
READ ALSO: Okonjo-Iweala Calls For AI, Renewable Energy Investments To Tackle Economic Shocks
Although African economies are gradually recovering from years of disruption caused by the COVID-19 pandemic, inflation, supply-chain disruptions and geopolitical conflicts, she warned that current growth levels remain too weak to deliver the jobs, industries and prosperity demanded by the continent’s rapidly expanding population.
