Africa has enough resources to make it without donor money

By MN Ghedia

Africa can reposition itself for economic, social and political growth without relying on donor funds.

Attempts by African scholars to explain the continent’s poor economic performance, growth and development have always failed to pinpoint the cause.

Lingering effects

The continent’s unlimited economic and social problems, according to socio-political analysts, include lingering effects of colonial rule, foreign governments’ interference, internal political upheavals, military conflicts and, above all, over dependence on exports of low value primary products.

Others are poor governance, poor economic management and macro economic imbalances. It is interesting that Africa’s economies were thriving before the arrival of European colonialists.

Africa and India have been trading from as far back as the 16th century. Africa had kingdoms with well structured systems of government. The colonists were best remembered for looting and plundering Africa’s resources.

Economic growth in Africa was and continues to be poor because of the exploitation by the Europeans, so there is a need to sharpen Africa’s vision and see how leaders can form an umbrella body that would cover the whole continent — this body should spearhead Africa’s economic growth.

Data and factors that can help Africa grow economically should be made available to the continents leading economists and planners and business oriented minds. This should then be given to policy makers and leaders to end poverty. 

Without any interference from the West and eastern Europe, this can be achieved. Poverty reduction strategies must be practical to provide policy makers with the knowledge to help them achieve the objectives of economic growth.

Africa is rich in minerals such as gold, oil, diamond, coal, uranium, and copper among others. If our leaders can put their heads together and resources together, the continent would not need donor funds.

Tribal cocoons

After independence in the 1960s African leaders took economic development for granted.  Instead of promoting nationhood, brotherly-hood to create stable nations/countries with dynamic public institutions to spearhead economic growth and development, they entrenched themselves in tribal cocoons and embraced politics of ethnicity, hatred, witch hunting and nepotism to mention but a few ills.

They failed to manage their countries’ resources well leading to perennial poverty among the population. Lack of money to exploit the continent’s natural resources and corruption by Africa’s leaders left us at the mercy of donors.

The vast natural resources from Africa are more than enough to make the continent self reliant, and are more than enough to sustain each country.

What is needed is to put regional bodies like Comesa, Ecowas under one umbrella with a professional secretariat staffed by people with economic and planning backgrounds. The leadership of this organization should rotate among member states to avoid complicity. This will enable rich countries like Nigeria and South Africa to support poor ones like Chad and Gambia.

Africa’s governments and its leadership should finance and agricultural research, promote agricultural institutions, promote fishing, tourism, finance minerals exploitations, finance manufacturing industries, commerce, put more money on education and research.

Super power

In this way, the continent can easily become economic super power with beehive activities, employments will be enhanced and crime rates will be seriously reduced. Education for all will be achieved and illiteracy reduced.

The author is an international affairs analyst.