K.Y. Amoako, the President of the African Center for Economic Transformation (ACET) said last week, “The sharp fall in commodity prices, or the slowing of the Chinese economy has once again shown how vulnerable most African economies remain to external factors outside their control.
“Transformation has the power to change that dynamic,” he said.
He was speaking at the inaugural African Transformation Forum (ATF) hosted by Rwanda which President Paul Kagame also addressed (back page).
Referring to the merits of ACET, which was set up in 2008, Amoako said, “A remarkable consensus has formed, both within and outside Africa, that economic transformation holds the key to sustained growth and prosperity.
“This has now been endorsed by the African Union, the African Development Bank, the ECA and the African Heads of State and Government during their summit last year,” he said. Read more. Source | East African Business Week