DAR ES SALAAM: AFRICAN countries can turn today’s economic and technological challenges into opportunities for long-term prosperity by investing in education, innovation, and strong institutions, Singapore President Tharman Shanmugaratnam has said.
Addressing academics, students, policymakers and business leaders during a public lecture at the University of Dar es Salaam on Tuesday, President Tharman said inclusive growth would be critical to ensuring that development benefits all segments of society.
He argued that economic success should not be measured solely by the growth of national income but also by a country’s ability to expand opportunity and improve living standards for its citizens.
Education, healthcare, skills development, and technological innovation, he said, are among the most important investments countries can make as they navigate a rapidly changing global economy.
“The world is changing rapidly,” President Tharman said, pointing to the growing influence of artificial intelligence, climate change, and technological disruption on labour markets across the world.
Countries that continue investing in human capital and lifelong learning, he noted, will be better equipped to adapt to these shifts while creating quality employment opportunities for future generations.
While acknowledging the challenges confronting the continent, the Singaporean leader said Africa remains well positioned for growth because of its youthful population, vast natural resources, and expanding consumer markets.
He urged governments to harness those advantages through targeted investments in education, entrepreneurship, innovation, and industrial development.
President Tharman also identified renewable energy as a key area for future investment, saying the transition to cleaner energy sources offers significant opportunities for economic expansion while helping countries respond to climate related challenges.
He further called for stronger vocational and technical training systems to equip young people with the practical skills needed in modern industries.
Regional integration, he added, will be equally important in unlocking Africa’s economic potential. He cited the African Continental Free Trade Area (AfCFTA) as a major step towards creating larger markets capable of attracting investment, increasing productivity, and supporting business growth across the continent.
President Tharman stressed that lasting progress depends on effective governance, saying transparency, accountability, and strong public institutions remain essential for building investor confidence and sustaining development.
He also urged African leaders to foster business environments that encourage investment while ensuring that economic gains are broadly shared.
The lecture formed part of President Tharman’s state visit to Tanzania, the first by a Singaporean Head of State since diplomatic relations between the two countries were established in 1980. The visit comes as Tanzania and Singapore mark 45 years of diplomatic ties and seek to expand cooperation in trade, investment, education, digital transformation, and sustainable development.
Relations between the two countries have grown steadily in recent years, particularly in areas such as port management, logistics, industrial development, technology, and skills training. Singapore’s development model has often been cited internationally as an example of how investments in human capital, efficient institutions, and strategic planning can drive rapid economic transformation.
During the visit, Tanzania and Singapore signed several agreements aimed at strengthening bilateral cooperation, attracting investment, and promoting knowledge exchange between the two countries.