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Sunday 15 May 2011

Is foreign investment really the answer?



 2 years ago I watched the video of Ngozi Okonjo Iweala’s video titled “How to help Africa” and as much as I am inspired by her prestigious position in the World Bank and the intellectual delivery of her speech I was taken aback by her proposition and answer to the question which she asked.
Helping Africa is an issue which one can endlessly debate and a nationalist view on the topic can often seem somewhat radical, nevertheless opening the doors of Africa for business in order to solve its economic problems is only a short term solution which will eventually prove detrimental to majority of African indigenes, living on the African continent.
I think it is fair to say that economic strength is the most influential source of power thus many countries around the world strive to achieve this but opening up your countries borders to foreigners and encouraging major investment does not promote power for the African nation, rather it distributes the power of the average African to the west, Asia and the Middle east where ultimately majority investors will be coming from.

It is clear to see by looking around the globe, struggles that many countries are facing today are as a result of similar actions taken; England for example has a capital city which is rumoured to be one of the most cosmopolitan in the world and a place where the average business is owned by a foreigner, these businesses provide millions of jobs thus increasing contribution to the countries economy, when these companies threaten to withdraw the government are forced to pander to their demands.
In 2008 Gordon Brown the British Prime Minster said he would create “British Jobs for British people” but found it impossible to achieve not only because of the EU but also because apart from the wealth of the British aristocracy the common British man has nothing to negotiate with other than his time which on average is only worth £5.25 an hour. 

The stance of the BNP (British National Party) is viewed as joke within the political classes even amongst the party of Margret Thatcher who refused to sanction South Africa during the apartheid because even they know that disenfranchising immigrants at this stage would only damage relations with foreign nations and upset the business of the wealthiest sect in society.
People must understand that every law and legislation passed must benefit the investors most of whom are foreign, from freedom of speech, to freedom of religion all is dictated by “investor”.

The repercussion for Africa will be incredibly severe; we now have mini China towns popping up all over Africa and many major companies dictating on issues such as electricity leaving many nations in darkness.
 Africa must utilise their man power, and use the wealth on the continent to develop entrepreneurship amongst their indigenous peoples. 

 Africa must learn from lessons in the past and understand that the “Scramble for Africa” is very neo-colonist and is only a ploy to harness the powers of every other continent than its own.

This blog is dedicated to Africa, Africans and all parties interested in the African issues!

Call me Chi! I am a Netrepreneur and writer with a love for history, philosophy and technology. 
I hope you enjoy reading my blog!