Implications of Mobilising African Resources for Development Through Trade

Abstract

The allocation of material and human resources to achieve developmental objectives is at the centre of policy formulation and implementation in government circles across Africa. A continent of over 1 billion people faces great economic challenges and it also holds potential for real business opportunities and economic growth if properly harnessed. This paper seeks to explore how various governments across Africa, aid agencies, foreign donors and developmental institutions can mobilise African resources through trade in goods, services, protection of intellectual property, so as to raise the required capital needed for development. It examines the present state of Africa’s trade imbalances and developmental needs. It also considers some of the resultant benefits and detriments (if any) of regional (Regional Economic Communities) and continental trade arrangements (AfCFTA) on Africa’s quest for development. The paper further evaluates the various ways these trade communities can be mobilised to provide the desired resources required for development.