Export is a major contributor to poverty in Africa

[Augusta]

Akinwumi Adesina, president of the African Development Bank (AfDB), has called for an end to the export of raw materials from the continent, describing it as a major contributor to poverty in Africa.

In a statement shared on his official X page on Thursday, April 17, Adesina said, “Africa must end the exports of its raw materials. The export of raw materials is the door to poverty. The export of value-added products is the highway to wealth. And Africa is tired of being poor

 

[magnus2022]

This is contrary to all known economic principles! How can exportion of raw materials be making Africa poor? This kind of assumption coming from Adesina , president of African Development Bank is quite difficult for me to understand. Economists should help us.

 

[aninditasen]

Akinwumi Adesina, president of the African Development Bank (AfDB), has called for an end to the export of raw materials from the continent, describing it as a major contributor to poverty in Africa.

In a statement shared on his official X page on Thursday, April 17, Adesina said, “Africa must end the exports of its raw materials. The export of raw materials is the door to poverty. The export of value-added products is the highway to wealth. And Africa is tired of being poor

Why doesn't Africa produce its own finished products from raw materials.

 

[eLdavis]

If Africa can work towards creating their own finished product, it would also reduce the rate at which a country spend in importation.

 

[Augusta]

Yeah we Africans have to look.at. this and see how we can be exporting finished goods than it's raw materials