Professor Douglas Boateng, an Industrialisation and Supply Chain Management expert, says African countries must develop the entire value chain of products and services on the continent if the African Continental Free Trade Area (AfCFTA) initiative is to succeed.
The process, which he referred to as ‘strategic sourcing’ meant that individuals must move away from buying ‘cheap products’ from abroad and rather add value to indigenous produce.
That, he said, would help create competitive advantage and reduce over dependence on foreign goods.
Prof Boateng was speaking at an inaugural lecture series held in partnership with the Ghana Institution of Engineering (GhIE) on the theme: ‘Engineering, Industrialisation, AfCFTA and Strategic Sourcing: The Inextricable Links’.
To properly develop the value chain, right from production to consumption, he noted that Africans must desist from exporting the continent’s natural resources in their raw state.
He said the inability to add value to the local resources ha
d led to excessive importation of foreign goods resulting in ‘huge amounts of money leaving the continent’.
To create a common market as envisioned under AfCFTA, Prof Boateng again called for removal of ‘artificial borders’ between countries to facilitate movement of persons, goods and services across the continent.
He noted that ‘strategic sourcing’ would increase domestic demand, boost local production, empower small and medium-sized enterprises, and create more jobs for the continent.
To that end, he emphasised the pivotal role engineers must play to build Africa’s supply and value chain infrastructure to make the continent a major force in international trade.
Prof Boateng said engineers must be supported to contribute effectively to value addition and problem solving to accelerate industrialisation.
He urged Africans to ‘plan and think long-term’, adding that AfCFTA must be ‘more of a continental issue than a national issue’.
Source: Ghana News Agency