In his capacity as a former head of state, John Dramani Mahama has stated that he is aware of the fact that the public sector in Africa requires additional chances for employment creation.
At the Korea-Africa Business Summit 2023, he delivered the following keynote address: "We must therefore create opportunities for the private sector to thrive and employ more."
"Is it possible for us to establish these prerequisites for a revitalized partnership between Korea and Africa? Yes, we can! And we have to!" he emphasized in the opening remarks of his presentation.
In a later statement, he highlighted that "our young people must see a much brighter future ahead, and they are willing to put in the shift to make it a reality."
Mr. Mahama further stated that Korea has the ability to assist Africa in nudging its young inventors and entrepreneurs to fulfill their goals and free themselves from the shackles of unemployment.
Our younger generation have a plethora of dormant abilities and talents. In spite of the unfortunate circumstances, there are a great number of people who have accomplished remarkable things despite the obstacles they have faced. These things speak to potential that has not been fully realized, and it is our responsibility as leaders to bring it out into the open.
"We on the African continent need to engage Korea from all areas so that we may bring hope to our young people by having them learn from the bright examples that the Korean turn-around narrative provides.
"Korea may also harness its unique breakthroughs to cooperate with Ghana and Africa to establish smart cities, develop social housing, and provide opportunities for collaborative payment platforms, Artificial Intelligence, and robotic platforms. These goals can be accomplished through the use of Korea's advanced technologies.
"This can only be accomplished by making significant adjustments to the way in which African economies are run and function."
It is imperative for African countries to institutionalize effective economic management, which must be built on broad and far-reaching governance and economic reforms. The goal of monetary policy should be to promote sustainable economic growth, and this objective should be accompanied by efforts to ensure that the benefits of such growth are shared fairly.