Africa is not poor but it suffers from poverty. And this poverty is due to unbridled capitalism
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“Africans are fools. They allow themselves to be cheated by their leaders and by the rest of the world”
Without further context, this statement may be passed off as the seething outburst of a frustrated foreigner who cannot seem to understand why a continent so rich in natural resources and people does not seem to be able to lift its millions out of poverty. Yet this statement is the expressed frustration of many Africans and is representative of the deep anger that many feel about the current state of affairs on the continent and the complicity of the ruling elite in impoverishing their own communities.
Perception is you.
The Solutions Ideator
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What comes to your mind when you hear these names- Mohammed Yunus, Bill Gates, Tony Elumelu? Did the following words come up in your mind- microfinance, health philanthropy and “Africapitalism”? This is the power of a brand- a consistently uniform perception you conjure when your name is mentioned.
Now ask yourself, when your name is mentioned what do people immediately associate with you? This is your brand and is how you are perceived by others.
Africa’s youth makes up over 60% of its population
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Finding opportunities for young people is a critical challenge for Africa, where 62 percent of the population—more than 600 million young people—is below the age of 25. With no signs that population growth will slow in the decades to come, it is imperative that Africa leverage the talent and energy of its youth to create dramatically higher levels of prosperity and equality and avoid the latent risks of unemployment and social instability. – See more at: http://voices.mckinseyonsociety.com/empowering-youth-in-africa/#sthash.NOmGZuS4.dpuf Continue reading
The World Bank estimates that, on current trends, sub-Saharan Africa will meet the MDGs in 2147
Africa is the only region in the world where poverty and hunger are on the increase. The number of undernourished Africans increased by one million a year from 2000 to 2002, though the proportion of people undernourished reduced from 36% to 33% over the previous ten years.
We need to question how we reward value as a society. You cannot have so many billionaires and yet so much poverty and unemployment. What then have these billionaires created of value that serves to justify their wealth?
Dr. Makanjuola, Resident Surgeon LUTH, Lagos, Nigeria
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The IMF, World Bank, African Development Bank believe that to drive development in the third world, particularly in Africa, there is need to make the local investment climate suitable to foreign investors. They insist that governments that must benefit from their funds must put in place policies that guarantee the safety of foreign investments, ensure emphasis on improving public infrastructure so as not to erode investors’ profits and enable ‘fair’ competition for foreign investors by removing subsidy regimes that prevent foreign investors from risking capital for critical ventures. For many governments that buy into this argument, there usually is the hope that the foreign investments that result from pursuing these dictates will enable their country’s economy pick up and that the ventures that start up will generate employment for their teeming unemployed.