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A knowledge economy is based on education, innovation, institutional work, strengthening information and communication technology, and creating economic incentives, in which the African continent lags far behind compared to other regions around the world. This presents a challenge to doing business on the continent, especially foreign investments and international trade between the countries of the continent and the rest of the world, and greatly reduces the prospects for catching up with economic development and achieving economic well-being. Contemporary development literature emphasizes that economic prosperity in the twenty-first century is largely based on knowledge-based economies, and thus requires the ability of countries to effectively generate knowledge and optimally disseminate it for economic and human developments in the context of economic globalization. For African countries to meet this challenge, basic education policies are necessary for Africa to provide opportunities to catch up with the most economically advanced continents. For Africa to meet the challenge of globalization, appropriate policies must be followed to catch up with the developed countries. Unfortunately, much of the literature presented fails to provide a logical framework for the policies and strategies through which the knowledge economy can be promoted in Africa. Therefore, this study will contribute to bridging the existing gap in the literature on building a knowledge economy for Africa by summarizing and discussing what has been presented so far about the measures that African countries can take to accelerate their progress toward strong knowledge economies that achieve economic growth and prosperity. This paper aims to provide policymakers and economic decision-makers in Africa with the necessary policies and strategies for the process of building knowledge economies. By answering the question: What is the documented evidence in the recent literature regarding the policies and strategies by which progress towards knowledge-based economies can be promoted in Africa? Accordingly, the paper was divided into three main sections. The first section is a conceptual introduction and focuses on clarifying the basic terms and concepts that the researcher deems necessary to explain and remove potential confusion about them. While the second section presents the policies and strategies for building a knowledge economy for the African continent and highlights the foundations of building knowledge economies, the pillar of education and the formation of skilled citizens, economic incentives, and the institutional system. The third section provides a summary, recommendations, and prospects for future research.
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