The Power Of Africa

Africa is a continent that was tortured and deeply hurt by colonialism. Colonialism was a harsh and brutal period of organized and methodical conquest, savage exploitation and division of the continent by European powers, with profound consequences that continue to define the contemporary economic, social and political reality of African states.

Colonialism drew and left behind artificial borders without taking into account ethnic, linguistic, religious or cultural differences with the tragic result of internal tensions, civil wars and separatist movements. It left behind economic dependence and subjugation to powerful foreign multinational giants for the extraction of natural resources and as a by-product poverty, hunger, hardship and of course many diseases. It left behind political instability, foreign interventions and coups instigated by the same former colonial powers.

Africa is currently home to 1.5 billion people, with 60% of them under 25, making it the youngest continent in terms of age. By 2050, 1 in 4 people worldwide will be African, representing a huge labor pool and one of the fastest-growing consumer markets on the planet. Countries such as Nigeria, Ethiopia, Egypt and the Democratic Republic of Congo will be among the most populous, driving demand and innovation.

The continent holds immense wealth, but today it functions primarily as an exporter of raw materials rather than producing finished goods. Africa in particular holds about 30% of the world's mineral reserves, including critical metals such as cobalt, lithium, uranium, nickel, chromium, manganese, platinum and copper.

It also has 60% to 65% of the world's unexploited arable land (approximately 600 million hectares), which theoretically allows it not only to feed itself, but also to become the "breadbasket" of the planet.

It has the highest solar and hydroelectric potential in the world, as well as vast wind energy potential, which remains largely untapped. This potential could make Africa a renewable energy superpower.

But how will Africa escape poverty? For this to happen, it needs to radically transform itself from an economy that exports cheap raw materials to an economy that produces value, to transform itself into an economy that invests in its institutions and makes the most of its young population.

Building factories within the continent so that raw materials can be processed locally is a key pillar of action. If this direction is implemented and African countries process their resources within their borders by domestic operators, then jobs will be created and the income and well-being of their populations will increase.

Modernizing agriculture with irrigation projects and modern technology and innovation that will eliminate costly food imports is another key pillar of action. Today, crop yields in Africa are on average 3 to 4 times lower than the global average.

Africa must also invest in its human resources. It needs a special emphasis on technical education, digital skills and innovation, adapted to the needs of the modern market. It also needs a clear focus on population health by implementing people's access to clean water and creating an adequate health system, interventions that will lead to an increase in life expectancy and improved worker productivity.

Infrastructure and energy development are also fundamental to Africa's economic growth, as their lack currently costs the continent around 2% of its GDP each year. Without adequate electricity supply and modern transport networks (their lack implies high transport costs), industry cannot operate competitively and products do not easily reach markets.

It should be noted at this point that over 600 million Africans (mainly in Sub-Saharan Africa) do not have access to electricity, while almost 1 billion cook with polluting fuels (wood, coal). The use of solar, wind and geothermal energy is vital, since it can provide cheap electricity without the need for huge central networks.

The old and outdated networks of colonialism were designed solely to transport minerals from mines to ports. Today, Africa needs modern ports, railways and highways that connect cities within a country and countries to each other.

Investment in water infrastructure is particularly important. The construction of dams, pipelines and desalination plants is essential both for public health and for the irrigation of unexploited land.

Strengthening institutions, establishing the independence of the judiciary and audit authorities and combating corruption are key factors for Africa's sustainable development, as even the best infrastructure or richest mineral wealth will not pay off without a stable and strong rule of law. Fighting corruption ensures that mineral wealth revenues go to schools, hospitals, sports and cultural venues, sustainable housing, etc., instead of inflating the accounts of a few individuals. It is estimated that Africa loses over 50 to 90 billion dollars annually through illicit financial flows, embezzlement and tax evasion.

Ending civil conflicts and political instability is also a necessary condition for any economic progress in Africa, as wars destroy infrastructure, drain capital, and divert state resources to military armaments instead of development goals.

Historically, African countries traded more with Europe and Asia than with each other. Today, trade between African countries themselves accounts for only 15% to 18% of their total trade, a very low percentage compared to Europe (around 60%–65%) or Asia (around 50%–55%).

The full implementation of the African Continental Free Trade Area (AfCFTA) could eliminate tariffs, create a single market of 1.5 billion people, decisively boost industry, increase Africa's income by $450 billion by 2035, according to the World Bank, and lift 30 million people out of extreme poverty and destitution.

In closing, I would like to emphatically emphasize that “Africa belongs to Africans.” If African countries move in the above directions, it is certain that the paradox of “most of the poor and hungry being in the richest continent on the planet” will be overturned.

Isidoros Karderinis was born in Athens in 1967. He is a journalist, foreign press correspondent accredited to the Greek Ministry of Foreign Affairs, as well as an economist, novelist and poet. His articles and reportages have been published in newspapers, magazines and websites in 130 countries. His poems have been translated into 9 languages and have been published in poetry anthologies, literary magazines and newspaper literary columns. He has published 8 poetry books and 3 novels in Greece. His books have been published in the USA, Great Britain, Italy and Spain. Facebook: Karderinis Isidoros