Thursday 14 August 2014

Insights from General Electric on integrating African economies.

According to General Electric, African economies must do certain
things right in order to integrate their economies. They must build a
denser interconnected network of transport and communication lines
that would link together Sub Saharan African countries. This would
facilitate trade within African countries. Currently, intra-African
trade is just 10 percent, while it is 40 percent for intra-north
American trade, and 60 percent for intra-Europe trade. Communication
and transport challenges have been cited as the reason for low trade
volumes within the continent. Africa's richest man, Aliko Dangote,
says that he needs 36 visas to travel around Africa, and only one for
the US. May be, this should be a lesson for African countries.

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