Technological Challenges in Developing Markets in Africa

Abstract

The challenge of technological development in developing markets in Africa has not only blighted the prospects of economic development but has also limited their chances of attaining global competitiveness. The globalization of economies has placed developing economies in Africa in a disadvantaged position. Technological capability is needed not only to address the challenges of economic transformation but to also unleash the growth potentials of developing markets. As its objective, the paper argues that the possession of technological capability is a necessary condition for the structural transformation of African economies. The paper concludes that Africa does not have the right policy framework and innovative practice for technological growth. The paper recommends the institutionalization of a strategic process that will enhance the acquisition of technological know how (technical skills and innovation expertise) by African youths with which to pursue the quest for development in order for African economies to be globally competitive.