A Community of Wealth: Africa and Growth

As Africa began to increase its economic position in the world, more attention began to accumulate in the region.  But as communications and technology made it easier for the world to better understand the state of African nations’ economic growth, an even grater query emerged.  How can nations replete with so much natural wealth have an impoverished citizenry, where 50 percent of Africans are unemployed?

The theories are many and varied.  Many blame African leaders, outside forces that plunder resources, and other point a finger at mismanagement.   But at the heart of it, African states for many years have been locked out of the international market and relegated to the sidelines of untested theories of civil society, population control and development.  These African states are often saddled with huge interest-accruing loans even when seeking ambitious infrastructure or social initiatives.

Perhaps the continent struggles most, because it doesn’t have a resourced backed  currency and must rely on the fluctuations in the international banking system which relegates most African currencies to junk status (in comparison to the developed world) .  Nonetheless the continent and its nations are growing.  However, one of the major issues that faces Africa is the idea of a Community of Wealth.  It is not enough that Africa has one or two millionaires or billionaires.  Real growth comes from complete communities in which almost everyone has the capacity to generate wealth in real and tangible ways.

Doing business with and in Africa is therefore absolutely imperative for every African on the continent and in the Diaspora. Africa’s truest goal is to become a producer, and set the stage for the development of homegrown industries.  It is essential to create not only opportunity for one community, but a collective of wealth and opportunity throughout the continent.

In a recent address, Ghanaian president Nana Akufo-Addo, issued powerful remarks as Ghana hosted French President, Emmanuel Macron.  His words were a beautiful road map to a vibrant and thriving Africa.  You can watch those remarks here:

 

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