• Tuesday, March 05, 2024
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Africa needs to bridge infrastructural gaps, provide political stability to drive growth – Aidoo

Africa needs to bridge infrastructural gaps, provide political stability to drive growth – Aidoo

Joseph Aidoo Jr, executive director at Devtraco Group in Ghana has implored African governments to improve infrastructure, promote political stability, and enhance the business environment to drive growth and realise the continent’s full potential.

“Embracing technology, nurturing entrepreneurship, and promoting investment in critical infrastructure can create a business-friendly environment that supports sustainable economic growth and development across the continent,” he said.

He emphasised that addressing critical challenges, such as poor infrastructure, political stability, and poor business environment, will do Africa well.

Nevertheless, he expressed his optimism about the future of Africa, citing significant progress in economic growth, infrastructure development, and technological advancements across the continent in recent years.

“Africa’s youthful and dynamic population, with over 60 percent under the age of 25, presents a tremendous opportunity for businesses to thrive in the coming years,” he said.

Aidoo also highlighted the rapid pace of technological advancement in Africa, with increasing smartphone and mobile internet penetration.

“This technological shift has enabled African entrepreneurs to leverage technology to create innovative solutions that address the continent’s unique challenges, such as mobile banking, e-commerce, and e-learning platforms,” he said.

Read also: Infrastructure: Lagos-Ibadan Expressway gets taskforce to ease gridlock

He said that Africa’s vast untapped natural resources, including mineral and agricultural resources, also present a significant opportunity for economic growth and global trade and investment.

Aidoo is a real estate business mogul who has contributed significantly to the development of Africa’s business landscape.

He is an executive director at Devtraco Group – a 30-year-old property development company based in Accra, Ghana.
Their portfolio ranges from premium residential and commercial properties targeting the high-end of the market to affordable housing developments for the middle and low segments of the market.

They harness the synergy gained from being present across the entire real estate value chain-Design, development, construction, property management, and hospitality – and the years of experience of peerless expertise to deliver sustainable developments that create value for clients, partners, investors and residents.