Economic trade between African countries is estimated at only 15%. Economic trade between Asian countries is estimated at 60% and economic trade between European countries is estimated at 70%. According to the world economic forum, Africa’s GREATEST economic opportunity is intra-Africa trade. We strongly believe this. On that note, why is intra-Africa trade so low? Africa is enriched with resources many countries in the world are dependent on. Why are countries in Africa not leveraging on each other’s assets to increase economic prosperity on the continent?
- Lack of internally developed technology to induce growth affects Africa’s ability to mass produce products. The blame for this can be attributed to poor leadership handed over to many African countries after the colonial era. Poor leaders disabled wealth from trickling down to the genius inventors and innovators in Africa. We have seen many of such geniuses migrate to developed countries and become successful. In Africa, the lack of access to country-generated capital (NOT AID, NOT foreign investments, REAL capital from economic trading activities) has limited many great brains from developing great technology. This same lack of access to country-generated capital is failing our educational systems. It has also contributed to the “poor quality perception”. Many African products are handmade. Geniuses have made cars, solar panels and even generators by hand, “handmade”. They have not the capital to turn their capabilities to economic usefulness. Thus making their products insignificant. If they have a bit of success, their products will be few and expensive.
- As of 2018, most Africans are still not aware of the resources in their own country making it a far-stretch for them to become aware of resources in other African countries. Not enough information has been circulated on Africa’s wealth, who is managing Africa’s wealth today and how it can be maximized for the benefit of African citizens. Africa is abundantly rich in organic agriculture, cocoa, cotton, oil, gas, gold, diamonds, salt, rice, metals, seashells and hundreds of other resources other countries are highly dependent on. Intra-Africa trade can significantly boost economic activities for all African nations. Human capital services and not human capital products (slavery) remains one of Africa’s greatest resources today. It’s unfortunate that slaves build the White House of The United States of America and many other monumental successes that are thriving today yet Africa got nothing. Africa must take care of Africa. Africans must take care of Africans. We must realize the monumental wealth in Africa and Maximize it.
- Division. The “divide and conquer” effects of colonialism era and pre-colonialism religion-infiltration caused a lot of racial division amongst people of African descent. Africa must love what’s African more than we love anything else. And no we are not refering to China made products that are branded as “African” i.e. Ankara. We are revering to the natural resources that have been converted to genius economic trading opportunities. I.e. art, corals, tourist services, argan oil, shea butter and the likes. Visit African tourist destinations before visiting Dubai. Use African Argan oil instead of Pantene Pro-V. Prioritize trading with africa to increase intra-Africa trade and in turn increase growth on the continent.
Africa will be great. Millions and millions of citizens are dependent on Africa’s high-potentials.
If success is what you really want, you must read Olatorera Oniru’s Book “The World Needs Africa”, The Aspiration, Leadership and Greatness Story of Success by an African, within Africa, is highly inspirational and educational. The book is certainly one of Africa’s Best.
This post was written by Olatorera Oniru