Africa, although rich in untapped natural and human resources, is home to the top five most impoverished countries in the world (World Population Review, 2019). Due to economic insecurity, political instability, and civil wars, some African countries have left many of its citizens living a life of poverty with shorter life expectancies. However, the continent where human life began has a growing population and the potential to foster growth in the business sector. More than 400 companies in Africa earn annual revenues of $1 billion or more (Leke and Signé, 2019). How can the continent steer the nation to catch up with the globe and contribute to the global economy?
There are many strategies and initiatives a leader in Africa can implement to realize the potential of the nation. Creating synergy between the diverse and dynamic tribes is critical. The divisions first introduced by invading Europeans over 100 years ago have left many vast areas in Africa in turmoil. Placing the importance of synergy at the center may help in areas where conflict turns violent and toxic. On May 28, 1975, 16 countries in Africa banded together to form the Economic Community of West African States (Ecowas.int, n.d.). Some of the achievements made from the collaboration of ECOWAS is non-aggression between the Member States, accountability, economic, social justice, and popular participation in development.
Another strategy to advance the continent to its’ full potential is investing in infrastructure. Developing roads and transportation could further connect the countries to foster even better communications and collaboration. New developments of cell towers are already rapidly increasing the communication capabilities of Africans. West Africa has been a region of significant scale and profitability for the tower industry, as well as receiving considerable investment in energy innovation and operational improvements (Edwards, 2019).
By embracing and respecting the diverse communities and developing on the infrastructure of Africa, these two strategies alone are a positive step in the right direction to engage in the countries’ full potential.
Ecowas.int. (2019). Economic Community of West African States(ECOWAS). [online] Available at: https://www.ecowas.int/about-ecowas/basic-information/.
Edwards, M. (2019). Where will the growth come from in African towers?. [online] Towerxchange.com. Available at: https://www.towerxchange.com/where-will-the-growth-come-from-in-african-towers/.
Leke, A. and Signé, L. (2019). AFRICA’S UNTAPPED BUSINESS POTENTIAL: Countries, sectors, and strategies. [online] Brookings.edu. Available at: https://www.brookings.edu/wp-content/uploads/2019/01/BLS18234_BRO_book_006.1_CH5.pdf.
Hi Yanin,
I appreciate the information that you provided about Africa and how it has the potential for growth. The charts were a great add to get a visual. Synergy is something that needs to be developed in this country. There are so many different languages and religions that the only way for this country to be successful would be for them to learn to work together. When I reviewed everything, it seemed to me that the people there have the potential for growth, but the one thing that was lacking was education on how to evolve. The cell towers have helped to try to move the people to current technology, but that is just a start. However, they do have the resources and when partnered with the right connections they can be successful with investing in infrastructure.