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Capitalist mindset a big problem

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FOR Africa to achieve economic development in line with the continent’s priorities, it has to learn to stand on its own.
This may not be easy for a region whose development priorities have been heavily dependent on the whims of the former colonial masters for many centuries.
During colonial rule, our oppressors were at their artful best in making sure the colonised’s natural resources benefitted the coloniser’s homeland.
Thus for a country like Rhodesia then, our minerals, exported in raw form to Britain, helped develop the coloniser at the expense of the producer country.
Not only that.
We were then forced to pay through the nose for our own products value-added elsewhere.
This way, multi-national companies continued to milk the continent, impoverishing the resource rich-owners.
The latest attempt by Africa to have a shared vision on how to achieve economic independence is a welcome initiative.
The recent launch of the African Economic Platform (AEP) in Mauritius is a step in the right direction.
Thus AEP argument that sustainable development cannot be achieved by supplying raw materials to the industrialised North becomes clearer.
Instead, intra-Africa trade has to be promoted.
What is gratifying about this latest forum is that it links business practioners to heads of governments and academics.
Surely a meeting with such a mix is bound to create a favourable atmosphere between private sector and Government, thereby stimulating investment and industrialisation.
But to achieve the desired African economic integration, there is need to understand the global economic trends that may impact on the noble cause.
Traditionally, Africa’s integration efforts are either driven by Western capitalists or by Africans themselves.
Suffice to note the old adage: ‘He who pays the piper calls the tune’.
The tragedy of colonialism is that it distorts the mindset to the extent that no harm is detected from the dependency syndrome.
A homegrown initiative like AEP is frowned upon because of its African outlook.
However, you find African leaders falling over each other in their bid to attend the World Economic Forum in the mountainous Swiss town of Davos.
But this was not the case with AEP in Westin Turtle Bay Resort in Mauritius.
Yet the European-centred Davos meeting is a forum that advocates capitalism and the maintenance of the status quo with Africa on the periphery of their programme.
The World Economic Forum eulogises globalism as opposed to identifying needs of the nation state.
At best, the Davos show pays mere lip service to the economic needs of Africa.
Nevertheless, the launch of AEP gives new hope to Africa.
This is especially so with the new US Government.
The US, under Donald Trump, is less likely to use its weakened economic muscle to influence regional groupings.
Thus regional groupings like the recently formed AEP should not fear US interference.
Under Trump, the US is not prepared to dole out funds to facilitate the growth of groupings like the AEP.
For Trump is no longer prepared to pump money into the global economy to create the false image of a universal benefactor.
The absence of US interference should be a positive for the growth of regional groupings.
This offers a chance to see Africa’s groupings integrating the continent’s economies, with Africa being the sole driver.
Nkrumah’s dream of the African freeing himself from capitalist shackles will have been achieved.

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