Sustainable development in Africa
Finally, investing in capital and infrastructure, education and healthcare is also crucial in order to build a resilient economy. For example, improved education means people have more qualifications, can work higher skilled jobs, earn more and contribute more to the economy. Improving healthcare means fewer people are sick and are less likely to take days off work. Improving infrastructure can make it easier for those who are geographically immobile, they can now get to work easier, on time and maximize their days, earning more revenue. This increase in revenue can be invested to promote further long-term growth (Acemoglu 2012). For example, Rwanda, another African nation, prioritized the development of their human capital despite having a lack of natural resources which highlights the importance of investing in people in order to successfully achieve sustainable development (Humphreys 2007). In conclusion, African resource-endowed nations can overcome the resource curse and achieve sustainable development. Experiences from other countries, such as Botswana and Rwanda, can offer valuable lessons. Strengthening institutions of governance, promoting diversification in the economy, protecting the environment and investing in human capital and infrastructure are all key factors in creating sustainable development.
Bibliography
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