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Why commercial activities is wearing-off in West Africa!
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[QUOTE="Mellorando, post: 206417, member: 37973"] We find that poor economic policies have played an especially important role in the slow growth, most importantly Africa's lack of openness to international markets. In addition, geographical factors such as lack of access to the sea and tropical climate have also contributed to Africa's slow growth. Below are the causes or some of the factors that affect root of commercial activities in West Africa: 1. Insufficient form and capital: African countries lack sufficient capital to cope with the expanding nature of business activities level of capital formation is low. 2. Political instability: constant change of government and will have ended investment in West Africa foreign investors are afraid to invest in the sub-region. 3. Low savings: the culture of saving is very low in West Africa and Africa as a whole hence there is no money for commercial transactions 4. Low per capita income: the capital income is very low majority of people in this region are living below the poverty line the low level of income leads to low purchasing power for the people 5. Lack of adequate commercial facilities: the various aids to trade such as Bank insurance Warehouse tourism are not well developed and this has gently in the commerce. 6. predominance of primary production: majority of people in this region are engaged in primary agricultural productions which does not favour speedy commercial growth. 7. poor transport and communication system: the region has very poor road network as well as poor communication system most of the people have no access to telephone or internet. 8. low level of education and illiteracy the high rate of illiteracy in this region has also affected the growth of commerce many of the people are not educated they can neither read nor write and consequently cannot interact with foreign traders in a business transaction. 9. absence of word develop markets markets in West Africa and North were developed to accommodate large-scale commercial activities. [/QUOTE]
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Why commercial activities is wearing-off in West Africa!
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