It is known that African countries import majority of their goods, technologies and services whilst exporting raw materials. Economic migration from Sub-Sahara Africa and poverty rate keep rising yet the continent receives billions of aids from developed economies annually. Very often these monies are not accounted for and their impacts may not be measured.

Majority of the largely rural communities in these developing African countries face challenges in transportation, electricity, education and healthcare. There are fewer skilled jobs because economic activities are minimal as the continent adds little economic values through their exported raw materials. Their economies are nearly 100% import based. The continent, unfortunately, imports processed products from their exported raw materials often at very high costs that hinder the growth of their local economies. Channelling billions of aids given to African nations yearly to direct delivery of infrastructure in the above key sectors to empower people in these countries and contribute to global prosperity would yield progressive growth.

The number of people, and in fact deaths, on the Mediterranean Sea, seeking access to European economies for better lives could be drastically reduced if foreign policies towards developing African economies by the World Powers are changed. Rather than implement restrictive import policies on these African countries, developed countries especially those of European continent could promote local production and processing of the raw materials in these developing countries. These would increase economic activities. It would add value to the raw materials locally and put people into gainful employment whilst increasing international trade. Trade policies should seek ways of perhaps applying the aids to collaborative efforts with these countries in efforts to close the wide technological gaps that lead to exports of raw materials and economic stagnation. It would be nice to apply the aids delivered yearly to direct establishment of off, mini and on-grid power projects by businesses wishing to take the risks in these economies.

As the world looks forward to an electric-fuel revolution in the very near future, are there opportunities for shared energy ventures within African countries such as Nigeria and Niger? Obviously, the Sahara Desert solar power potential is capable of turning the economies of these continents around. Modern international trade partnerships should drive delivery of transfer of modern technologies for example in healthcare, electricity, road and rail to Africa through the aids and trade enhancement. No doubt, this strategy would contribute to global prosperity by increasing economic growth, and relatively sizeable number of skilled-jobs in the largely rural markets whilst opening the economies up to foreign investors.

The global economy seems to be in a competition. African markets are at the centre of the competition not because of their technological advancements but because of their consumption capacity and economic challenges needing solutions from the developed economies. However, it must be noted that to gain and maintain higher influence over competitors within the African continent requires modern trade model that promotes win-win outcomes.

 

Morgan Orioha

Morgan K Orioha
Morgan promotes Energy, trade and environmental policies and economic opportunities favourable to African economies and those of the allies.