Africa will develop by choice not chance

Opinions

Written by Administrator Friday, 30 July 2010 08:28

This week at Munyonyo, former British Prime Minister Gordon Brown told the Africa Union Summit: 'Twenty years ago nobody would have predicted that China and India would be the big drivers of growth and political superpowers they have become.

And there is no reason to believe the countries of Africa cannot make similar leaps in the decades to come. So I am here to speak not just of the ascent of Africa and Asia, but to say today just as people have spoken of an American century and an Asian century, I believe we can now speak of an African century'.

Twenty years ago, China and India were ordinary member countries in the third world. The kind of products they were producing was not good enough for 'the developed world'. Today, 'made in China ' products have become products of choice for the Americans and Europeans. Who could have imagined first world consumers buying Chinese goods in preference to their own?

Who could have predicted that America would today, be sending its students to study IT in India, outsourcing most of its IT business in India or shipping out some of their IT business to India?

Today, China and India are the two fastest growing economies in the world. So much so that for them to continue being world economic powers, they will have to invest heavily in the creation of new consumers. Otherwise who will buy all these goods they churn out day and night.

That is why Africa has become a very important investment destination for the developed and developing world. At first the developed countries just looked at Africa as a market. Only to learn from the Chinese that for Africa to be an important market, it only makes sense when the Africans have a capacity to consume what the developed countries are producing.

And if China and India can become super powers in such a short period, why should we not do the same especially given the comparative advantage that God has bestowed upon our continent. We have Oil, we have minerals, we have fertile land lying unutilised for productive work, and we are blessed with good climate. This is what has always boggled the minds of the rest of the world.

The president of Economic Community Of West African States (ECOWAS), Victor Gbeho, told journalists in Sal , Cape Verde recently: "60% of the worlds' deposit of mineral today, lies in Africa . All those countries outside Africa which are gearing to strengthen their partnership with Africa know very well that their own future depends on Africa . This is not the time for anyone to be ashamed of being an African."

This week, one delegate to the just ended Africa Union Summit in Uganda , literally told us we are just not serious. He is former British Prime Minister Gordon Brown. He said that the rate of return on foreign investment in Africa today is higher than in any other developing region. Graham Knight observes that any expression of interest in Africa is because they (Americans, Europeans, Asians,) realise the profit to be made.

And then Brown advised that we needed a continuous uninterrupted period of 3 decades of growth because 'economic history has shown us that 80% of poverty reduction is achieved by growth - but it has to be continuous and sustained - it takes decades of very high inclusive growth. If we can achieve this, then Africa will become a new source of dynamism in the global economy'.

And then he emphatically ended by saying that not only will the development of Africa be driven by Africans themselves, "it will happen through choice not chance."

July 30 - August 5, 2010