In recent times Africa has attracted a great deal of international attention. In practicality it appears foreigners are finally seeing for themselves the capabilities and bright opportunities of this constantly ‘belittled’ continent. As it is, Africa is now the most popular spot for foreign investors.
“Before long, Africa will have a larger economy than China with a vast internal market. Much of the continent may be in the developmental stage, but we’re using technology to grow faster than any generations before.”-President Alpha Conde
In an interview with Forbes, Guinea president predicts that regardless of the economic hurdles and instability, Africa will in time surpass the Chinese economy. It sounds super-heavy but in truth that is how it should be.
China is showing beyond reasonable doubt that investing in Africa is really important to them, that raises questions about their recent business relationship with Africa. Is it a strategy for inclusiveness, since it is rather clear that the world’s fastest growing countries are in Africa? Either way mutuality saves the day.
In no distant time, Africa’s economic potential will explode and the world powers are probably detecting this fact, thus reaching out to the continent via mutual partnerships and support.
For the long accumulation of economic setbacks in Guinea, President Alpha Conde blames past ‘unaccountable’ administrations. I believe this could go round for most African countries. President Conde himself had suffered a great deal of political brutality, but against all odds, he eventually became the first democratically elected President in Guinea. As fate would have it, he effortlessly obtained the mandate to go for a 2nd tenure.
Evidently his administration is making changes that Guinea will not forget in a hurry.
“During the first years of democracy, we were able to stabilize the economy and see investors bring billions to the country. We even managed to convince the international community to wipe out our crippling historic debt…We are a resource-rich country with huge potential, but the decades of inertia and bad governance have condemned generations to poverty. With a new political consensus for reform, we have a chance to turn our unexploited agriculture and mineral wealth into a sustainable development that can help us capitalize on the emerging opportunities our continent holds.”- President Alpha Conde
Believe it or not some African presidents have the ambition of taking African economy to the next level. Alpha is one among others. Many reforms and austerity measures by newly elected presidents in Africa, the likes of Buhari and Magufuli, all revolve round self-sufficiency and proper management of resources. This trait by extension is a great recipe for building and stabilizing the economy but the most important in this age and time is power.
The adoption of the use of renewable energy in Africa is yet another proof of the desire the lift the continent’s reputation. Power is everything for both developing and developed countries. In the absence of power, everything shuts down, it negatively affects every sector of the nation- education, health, you name it; it automatically halts industrial operations. A stable power sector is the secret to a stable economy.
Knowing this truth, Alpha Conde’s administration have constructed “a second state of the art hydroelectric dam in Souapiti”. In other words, Guinea has the potential of soon exporting power out to other African countries.
Judging from the high turn up of African tech-entrepreneurs; the endorsement of Africa’s electricity plan under Obama’s Power Africa Initiative; and the current (growing)use of renewable energy in Africa, one could not agree any better with President Conde. Give it time… plus relentless efforts, Africa will get there.