Africa must now prioritise investment in science & technology for accelerated transformation.

It should be noted that in the earlier part of this speech, we showed how society metamorphosed from one type of society (social formation) to another type. The primer, the initiator of all these changes is the progress in science and technology.

When man invented fire, society was able to descend from the trees to the caves. The invention of iron, enabled society to more easily produce crops and also to have better weapons (spears, etc). The invention of gun-powder and its use in Europe, created a disequilibrium in the World Order of that time. Huge chunks of the globe were conquered and colonized by the possessors of gun-powder. Therefore, for Africa to undergo social-economic transformation, science and technology must lead the way. The scientists should, therefore, be well paid ahead of everybody else because we badly need them to copy or innovate the crucial scientific discoveries.

Awareness of the issues raised above is very crucial for Africa’s transformation. Addressing the above issues will enable us to create prosperity for our people. How? By our producers generating alot of goods and service products that find a ready market. The more we sell, the more we produce. The more we produce, the more jobs we create and the wider the tax base. The more taxes we collect, the better social services the African governments will provide. Today, the African population is 1.25bn with a purchasing power of US$6.757 trillion.

By 2050 this population will be 2.5bn. Uganda alone will be 102 million people. With much bigger purchasing power, Africa will be the engine of the World economy provided we solve the bottlenecks.

I thank you.

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