‘India can teach Africa about entrepreneurship’


New Delhi: Africa needs to learn ways to foster entrepreneurship from India, the visiting head of an African think-tank said here Thursday.

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“One of the lessons that India can teach us in Africa is entrepreneurship,” K.Y. Amoako, president of Ghana-based African Centre for Economic Transformation, told a group of Indian businessmen at an interaction organized by the Federation of Indian Chambers of Commerce and Industry.

Amoako, a former head of the UN Economic Commission for Africa, runs a think-tank in Ghanaian capital Accra, with a vision to help in the “ownership and accountability” among continent’s governments to accelerate the development process.

He was on a week-long visit to India, with a final stopover in Delhi.

“We are looking to collaborate with Indian research groups,” said Amoako, whose organization will be bringing out a transformation report which will rate different African countries as per their economic policies and environment.

He asserted that there was every reason to be optimistic for Africa. “African investments have shown some of the highest rates of return in the world,” he said.

Amoako, an economist by training, pointed out that economic governance had also improved significantly. “The macroeconomic indicators have increased tremendously across Africa,” he said.

In the capital, Amoako met with senior officials of the external affairs ministry. He also visited two city-based research institutions, Indian Council for Research on International Economic Relations and National Council of Applied Economic Research.