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.