Ke Nako! Remember that? If not, that was the slogan for the 2010 FIFA world cup meaning it’ s time and indeed it is time for Africa to realize it’ s full potential.
Africa is the home of the poorest people on this planet yet it carries the most immense wealth by all definitions; But we have failed to realize full potential due to a number of reasons e.g. >400 years of slavery, >100 years of colonialism and the present modern day slavery (neocolonialism), corruption among others.
Afro pessimism has been the product of all the above injustices but the tables now have turned, mainly due to;
1. Improved democracy and governance in many states.
2. The Western economies and eastern have heavily increased their investments in Africa as opposed the usual dead aid.
3. Brain Gain due to lack of jobs in more developed nations.
4. Improved Infrastructure and Information Flow in Africa.
5. Economic crises in the developed countries forcing investors to seek juicier returns in emerging markets.
6. Increased global population spurring demand for African commodities.
7. A burgeoning middleclass
We can't hang on to the past if we wish to move forward. The past, as much as it would affect the present and future, is done away with. We can only learn from it.
ReplyDeleteIndeed, Africa is the latest frontier. Africa is now where China was 20yrs ago,the new frontier. Africa is growing exponentially and the scramble for it, if I may call it that clearly indicates that this is the place to be.
But we are still plagued by poor politics, corruption and instability. In fact, I believe that if our business community can demand accountability from the political class, instead of perpetuating corruption, that would go a long way in ensuring that stability, economically and politically is solidified.
But we can't afford to despair. In Telecoms, Africa is the fastest growing market and still not even 50% has been covered. Its a mouth-watering notion to the entrepreneurs.
As Aly Khan, of Rich Management would say, avoid Africa at your own peril. It is the place to be.