With overseas investment and economic prosperity on the up, and new leaders and entrepreneurs emerging, Africa is rising.
Mobile phones, a barometer of social prosperity, are increasingly ubiquitous on the streets of major African cities such as Abuja.
Abuja Nigeria |
Afro-optimism versus Afro-pessimism is a misplaced debate. Africa
has changed. The Abuja of my childhood and Lagos where I began my professional
career have both changed dramatically. This is evident in the real-estate booms
and lengthening traffic jams. Million-dollar deals used to raise eyebrows, but
now billion-dollar deals are becoming the norm.
Regardless of social class, almost everyone has a mobile
phone, or two or three. Even in remote villages, mobile phones have replaced
the bicycle or radio as prized assets. As urbanisation kicks in, the
air-conditioned supermarket is fast replacing the local markets, or small
convenience store. Political democracy is evident in newspapers and blogs.
A more important shift has been more of my peers assuming
political leadership. A new generation of leaders has emerged, with its own
ideas on how to run governments, multinational companies and international
organisations. It is a key moment in our history of which the international
business community has taken note – to the point where, today, the rate of
return on foreign investment is higher in Africa than in any other developing
region.
The challenge now is to scale up this investment in a way
that does not leave ordinary Africans behind. Too many Africans still lack food
and, just as importantly, adequate nutrition, without which they will struggle
to reach their full potential. They lack access to decent healthcare and
education, and are burdened by weak institutions and governance. The leaders
taking charge of Africa's destiny need to be aware of the legacy with which
they are contending: 50 years ago, when sub-Saharan Africa gained independence,
the region was a net exporter of food; today, it is an importer. Being in
charge of one's destiny is not enough to guarantee success.
Cairo Egypt |
Consequently, instead of debating optimism versus pessimism, we should be debating how Africa can rewrite its future. This is something close to my heart. The difference between African development now and development in the past is that we are in the lead. Agricultural development is helping to restore productivity, bringing employment to thousands and helping to improve our environment.
Nairobi Kenya |
There is still much work to be done, but transformation is
well and truly under way. Who knows what Nigeria and the rest of
Africa will look like in 50 years' time?
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