Skills Outweigh Natural Resources – In Attracting Foreign Investment, Says Afeti

Africa is rich with oil, minerals and wildlife, but with adult literacy and child labor rates at just over 50 percent, the continent remains impoverished. By coincidence or not, Africa’s share of worldwide foreign direct investment in 2005 was about 3 percent, and the same percentage of the African population possesses higher education. Globalization places a premium on skills, suggests higher-education administrator George M. Afeti. In a globalized world, multinational companies can easily transport resources and bestow jobs in locations with the most talented workers. To compete globally, nations have no choice but to encourage their citizens to sharpen knowledge and skills. – YaleGlobal