Africa is in possession of what should be the remote of shared wealth to the world has now turned into first class dependent continent on the rest of the world
The African continent after being demarcated by he European continent through the infamous Berlin Conference, which took place in the capital of Germany, in the year 1885. On the back of this history, the primary goal for the division of the continent, Africa was to empower the European continent to have absolute control over a continent that possesses greatness and yet, did not acknowledge how important they are as continent to the rest of the world.
To that effect, the signs of a potential ruler of the world in terms of producing more than enough goods and services and providing aid to other continent was an undisputed fact. Africa boast of being the pioneer of civilization which started in Egypt.
Plus, Africa is the richest continent in terms the most naturally resourceful continent. It has possession of natural resources such as Gold, Natural gas, largest arable lands, Diamond, Oil, Copper, Uranium and other resources.
However, the International Monetary Fund (I.M.F) ranks all the other Continent as more wealthier above Africa. The I.M.F in their rankings, stated that, Asia, Europe, North America and Africa accordingly have the largest economies.
Adding more flesh with continent that have large economies, the Asian continent has a nominal Gross Domestic Product (G.D.P) of USD$38.5 trillion which makes them the largest economy in the world.
Meanwhile, the European continent has a nominal Gross Domestic Product of USD$19.35 trillion. However, the continent blessed with all the natural resources, Africa can only boast of a nominal Gross Domestic Product of USD$3.1 trillion.
Interestingly, throwing more light on the biggest economy in the world, the Asian continent posseses natural resources such as Forest, Silver, Petroleum, Fish, Water and Copper which is nothing close to Africa’s natural resources.
Factors hindering Africa’s economic development:
There are several factors serving as blockages to Africa’s inability to access the adequate requisite needed for its populace. To mention a few,
(1) Poor educational system: Africa as a continent has been a victim of having unqualified professional taking up responsibilities in which they have no knowledge or technical know how in bringing out the best from the task he or she is suppose to deliver. Example: An African country such as Ghana would appoint a medical practitioner as a Minister of Energy. Clearly, the energy sector would collapse.
(2) Dependency on export of Natural Resources: African leaders have failed to channel the continent’s resources into building a well regulated industrial economy, which seeks to add value to all raw materials (Natural Resources). Example: Dr Congo as an African country produces raw material such as Uranium and fails to add value to it hence, exports it to the European market to be sold at a much cheaper price.
(3) Corruption: The loud silence of the deteriorating effect corruption and corruption related activities are having on Africa should be looked at again. It all balls down to the mindset of the freed once upon a time slaves. African leaders acting as the engineers of neocolonialism for a gift of personal accolades from their colonial masters and new settlement in the devil’s residence (Europe) all at the expense of the ordinary African.
These are some of the major factors dwindling Africa’s Economic progress in a well orchestrated fashion.
Solutions to Africa’s inability to access Economic freedom:
In all the economic mess created by Africans themselves, the primary necessity for Africa to access economic freedom is change of mindset, diverting more attention into improving on it human resources (education), while at that, Leadership should channel most of their attention into putting in measures which would increase and improve productivity.
