Prof Utomi advocates for education and strategic planning to enhance Africa’s global competitiveness
Prof. Patrick Utomi, Chairman of the Pan African Trade and Investment Committee (PAFTRAC), has highlighted the critical need for Africa to invest in education and strategic planning to improve its global competitiveness.
Speaking on Accra-based Channel One TV, Prof. Utomi emphasized that a well-educated workforce is essential for driving innovation, productivity, and overall competitiveness.
Prof. Utomi argued that education is a cornerstone for economic growth and development, stating, “For us to be more competitive not only do we have to have power, we also need education. It is the human capital that facilitates productivity increase that drives competitiveness.”
He further explained that Africa requires a strategic approach to select areas where the continent has specific factor endowments and to employ limited industrial policies to achieve efficiencies within those sectors.
“You need a strategy. You can’t do everything well. You’re going to choose areas where you have certain factor endowments and you use limited industrial policy to facilitate great efficiencies within those factors to make you competitive on those value chains,” Prof. Utomi added.
His remarks underline the importance of targeted investments in both human capital and strategic planning to enhance Africa’s position in the global market.
