Talent, not natural resources, 'to drive' Africa's economy

The future of Africa will be driven by the citizens' talents, Dr Donald Kaberuka, one of Africa’s leading economists and former AfDB president said.

Dr Kaberuka, who was speaking during the ongoing World Economic Forum (WEF) in Kigali said the future would not be determined by minerals resources.

Africa was currently faced with a burgeoning young population, with experts projecting that the continent’s population would rise to 2.5 billion by 2050 and host and host the world’s workforce by 2030.

"The economies of the future will be dependent on talent, what you know rather than what you have," he said.

The Oxfam executive director Dr Winnie Byanyima, expressed concern over the income inequality in Africa.

“Income inequality is widening, growth has been squandered, we see growth happening, but there are still high poverty levels” said Dr Byanyima.

She noted that as much as there was a need to be optimistic in Africa, countries needed to deepen social inclusion and stamp out vices like corruption.