Beyond economic technocracy , it would be important for the countries of the southern hemisphere to understand that they are all in the same boat , and so set about building genuine regional integration structures . Initiatives such as the African Continental Free Trade Area ( AfCFTA ) o er a promising framework for boosting intra- African trade , and stimulating economic growth across the continent . Ultimately , we must not lose sight of the fact that Africa is the continent with the highest ratio of young people , an enormous potential that must be put to good use , by investing in education and skills development , to enable African populations to participate e ectively in the global economy and reduce their dependence on imported goods and services . By equipping their citizens with the knowledge and expertise needed to compete in emerging sectors , African countries can encourage innovation , entrepreneurship and economic selfsu ciency , which will ultimately reduce the cost of living through increased productivity and competitiveness .
Addressing Africa ' s high cost of living in a context of underdevelopment , weak currencies and Western domination requires a comprehensive , coordinated approach that capitalizes on the continent ' s resources , fosters regional cooperation and promotes sustainable development . By prioritizing economic diversification , strengthening regional trade , improving agricultural productivity , stabilizing currencies , investing in education and promoting sustainable development , African countries can reduce their dependence on external factors and create a more prosperous future for their citizens . Although the challenges ahead are considerable , with concerted e orts and strategic planning , Africa can overcome the obstacles to development and achieve lasting prosperity .
Hubert Marlin Elingui Jr . Journalist .
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Flashmag ! Issue 147 January 2024