Africa should take financing seriously because of transiting global order – Prof Utomi

Prof Patrick Utomi, the Chairman of the Pan African Trade and Investment Committee (PAFTRAC), has emphasised the importance of Africa seriously considering financing options, both internally and externally.

He attributed this to the shifting global order where the majority of continents are experiencing an ageing population.

In a conversation with Bernard Avle on the Point of View on Channel One TV, Prof Utomi highlighted that Africa is the continent with a growing young population that has the potential to sustain the future.

He pointed out that these young individuals require investments to enable them to contribute significantly to the country’s demographic dividend.

“The reason that I think that Africa should be taken seriously in terms of financing both from within and from abroad is that we live in a transiting global order. We have ageing continents. Europe is ageing, they are not having children, Asia is, America is. The continent that is producing the young that can keep this planet going is Africa.”

“That young needs investments in them so that they can move from statistics to human capital and when they transform from statistics to human capital, they essentially provide a demographic dividend for the continent,” he stated.

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