BIOECONOMY FOR SUSTAINABLE DEVELOPMENT IN AFRICA – STATE OF PRODUCTION DETERMINANTS AND FUTURE DIRECTIONS

Oluwaseun James Oguntuase

Economic and Regional Studies (Studia Ekonomiczne i Regionalne), 2020, vol. 13, issue 01

Abstract: Subject and purpose of work: This paper presents bioeconomy as a solution to sustainable development challenges in Africa. It identifies the current state of bioeconomy and its production determinants in African countries and regions, and the potential that bioeconomy has in these jurisdictions. This paper also highlights possible policy inputs for a sustainable bioeconomy on the continent. Materials and methods: In addition to a systematic literature review, statistical databases and published indices, the paper also builds on the classical theory of productive forces to achieve its objectives. Results: The bioeconomy potentials of African countries are poor when compared with those of countries with dedicated bioeconomy policies or strategies. Most of the bioeconomy related activities in Africa were centred on biofuel production as a substitute to fossil fuels. Conclusions: African countries must formulate cohesive bioeconomy policies, make necessary targeted investments in research and innovation, and improve general governance to take advantage of opportunities in emerging sectors of bioeconomy to ensure sustainable livelihoods on the continent.

Keywords: Environmental Economics and Policy; Resource/Energy Economics and Policy (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:ags:plecrs:305632

DOI: 10.22004/ag.econ.305632

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