THE TIME FOR AFRICA IS HERE: THE TIME FOR ACTION IS NOW.

THE TIME FOR AFRICA IS HERE: THE TIME FOR ACTION IS NOW

The African continent is blessed with immense wealth; there are vast human, material and mineral resources in this part of the world. With a population of about 950 million people and a collective GDP of $978 Billion as at 2006; the continent is unarguably the largest emerging market in the world. In his book titled Africa Rising, Prof Vijay Mahajan noted that; “when an Irish beer has become African, and when the future growth of a brand rests on expanding sales on the African continent rather than in Ireland, there is clearly something shifting in the world.”

But the questions this article wishes to critically examine are; are we (Africans) benefiting enough from this emerging frontier in global trade? How does it transform positively, the life and living conditions of an average African? Because the continent is unarguably the poorest in the universe and sub-Saharan Africa is the most deprived region on planet earth.

In consequence, I would identify the enormous strength and unlimited opportunities that this massive industrialization portends; whereas measures that should be taken to ensure that Africans are not ripped off the accruing benefits of this positive development would also be suggested in subsequent paragraphs.

The Good

·        Youthful Population- Africa is the most youthful continent in the world and she is growing younger each passing day. As at 2007, 41% of Africa’s population was under the age of 15. The Black-man's continent is unarguably ahead of any region of the developing/developed world in terms of youthfulness. Ironically, the developed world in contrast is aging rapidly, Europe has just 16% of its population under 15, North America has just 20%; and Japan has only 14%. As Africa grows younger, adding another 900million before the end of 2015, European population is expected to decline by 60million people in the same period. Whereas much of the developed world is worried about a birth dearth, Africa is concerned about the implications of a population explosion. (0guche Agudah, 2014)

·        Emerging Markets- In the introductory part of this piece, I noted thatthe African continent has a population of about 950 Million people and a collective GDP of $978 Million according to a World Bank report. The continent is attracting investors from far and near because of its vast opportunities. This can be witnessed in the daily influx of foreign businesses coming into the African market because they are aware of the numerous advantages that lie therein. According to reliable statistics, the continent attracts more than half of all Foreign Direct Investments (FDIs) in the whole world. In 2013, the total continent attracted a record $80Billion inflow.

·        Unlimited Opportunities- There are numerous opportunities in the developmental and infrastructural deficits that plague Africa. They range from limited access to clean and portable drinking water, electricity, access to qualitative and quantitative education, good roads, affordable housing and healthcare but ironically, therein lye the potentials.Businesses and business owners can provide these deficits profitably while offering goods and services to meet thesesocial and economic needs. One visible instance is the geometric growth in telecommunications and broadband users and usage. Africa’s online connections are growing faster than anywhere else in the world; except in Middle East.

The Bad

       I.            Unemployment & Crime Rate- According to the International Monetary Fund (IMF) statistics, the continent is projected to boast the largest labour force in the world- 1 billion workers strong- more than China and India combined by 2040. This wonderful news should be translated into substantial improvements in the life of the average African because today, only one in every five people in Africa finds work in the formal sector.The rate of unemployment is astronomical; it has translated in a desperate job search which means that job seekers would do anything and everything to ensure that they are gainfully employed and to stay that way. The search for any form/kind of employment has led to the inhumane treatment melted at workers and employees by the management of some companies.

Unemployment is also contributing to the increase in crime rate because some of these unemployed and desperate youths have turn to crime and other social vices in a life saving bid to ensure that they survive at all cost. The rate of crime is unarguably related to unemployment.

    II.            Massive Exploitation- Africa is blessed with great human, material and mineral resources; it is home to some 30% of the world mineral reserves but does it in any way benefit the average African? Most of these extract and exploitative companies are owned by foreigners.

The Oil, Gas and Mining sectors do very little to transform positively the life of the average African because they are exploited and exported almost immediately, leaving the indigenous communities to suffer the instantaneous and long lasting consequences of the negative effects of these exploitative activities;these products are processed and finished in their home countries and then imported back and traded in exorbitant prices. The Nigeria’s fuel subsidy saga comprehensively illustrates this assertion and Diamonds extracted from West Africa mines has for centuries been cut in Antwerp, Belgium, Amsterdam and more recently India.

 III.            Neo-colonialism- The Encarta Dictionary of English defines Neo-Colonialism as “the domination by a powerful, usually Western nation of another nation that is politically independent but has a weak economy greatly dependent on trade with the powerful nation.” This definition explains transparently the current situation of happenings in the African continent. It is what I would like to tag “The Scramble for Africa; Part two.” The book (Africa Rising) by Prof. Vijay Mahajan highlighted the vast array of opportunitieswithin the shores of thecontinent but failed to note the disadvantages of such mad influx of Foreign Direct Investments to the financial and economic wellbeing of African states if left unchecked.

The Way Forward

Africa’s greatest potential is its people. With wide access to quality education, health and infrastructural services, the African man is given the necessary tools he needs to chart his course in life. The governments and other global institutions must ensure that policies, legislation and programm that foster the well-being and better living conditions of Africans is sponsored, effected and promoted because over the past three decades per capital output of electricity in Sub-Saharan Africa has reminded virtually flat; only 16% of all roads are paved compared with 58% in south Asia.We need a positive change and the only way to do that is to ensure that our leaders are held accountable for their actions and inaction.

Demanding Accountability will ensure that governance, transparency and sound economic frameworks that will ensure that these endowments are properly managed to offer unparallel opportunities for economic growth and development. Strengthen institutional and governance framework that manage these resources is a good place to start. Transparency can help increase accountability and help ensure that these resources are harnessed for the benefit of all.

The Arab Spring is a good example of what we can achieve if we are determined and unified by a voice, these tremendous event led to the ousting of some dictatorial leaders in some African countries; Egypt, Tunisia, Libya and the likes. Another example is the endless episodes of tough political battles where incumbent Presidents are voted out of power. Ghana and co., and more recently Nigeria definitely fits the bill.

Conclusion

My name is Oluwole, I was born to low-income parents in a remote part of Lagos State, Nigeria. I was not born with a silver spoon; I was not born with any spoon at all. My parents are middle-class civil servants in the employment of the State Government. I was born broke but I want better living conditions and opportunities for my children, grand children and great-grand children when they finally arrive. I want what that other African youth wants; I want to a proud African; I want a positive change in the status quo.

God Bless Africa

Olusanya, Oluwole Sheriff