The Senate President, Dr Bukola Saraki has said, the African continent is yearning for leadership not only in government but also in commerce.
He added that local talent is yearning for partnership and collaboration with talented, capable people to realise the hopes of the growing youth population.
Saraki stated these at the weekend while delivering a keynote address titled; ‘The African Value Chain: Harnessing Local Talent and Opportunity’ at the Georgetown Africa Business Conference 2018 in Washington D.C, USA.
The Senate President appreciated Georgetown’s active promotion of dialogue across communities – as well as its fostering of greater understanding in the world.
Speaking further, he said; “Permit me to observe that our gathering is in some way a reflection of the changing attitudes towards the continent. It used to be the case that when those in the West thought of Africa, all they conjured up were images of conflicts, epidemics and despots.
“While we still have reports of conflicts and outbreak of disease on CNN, BBC and Al-Jazeera, we also now have programs like ‘Inside Africa’, ‘African Voices’, ‘Marketplace Africa’, and ‘Africa Business Report’– that showcase entrepreneurial acuity, talent and innovation.
“Some of us can still recall, with the obligatory shake of the head, the cover story of The Economist of March 11, 2000, with the title ‘Hopeless Africa’ – in which the magazine concluded that ‘for reasons rooted in their culture’, Africans cannot escape conflicts, corruption and disease.
“Remarkably, a decade later, the magazine carried another cover story, this time in its December 3, 2011 edition, with the bold header, ‘The Hopeful Continent: Africa Rising’ – in an apparent volte face. That effervescent phrase, ‘Africa Rising’, has been with us since,” he stated.
Saraki added that because much of Africa still relies on commodity exports, “we are able to make a connection between its economic growth and the rise in global commodity exports, rather than any new thinking or deliberate planning.”
According to him, harnessing the opportunity that comes with participating in regional production networks can accelerate African economic transformation, particularly through the gains associated with enhanced productivity, skills development, and diversification of exports.
“However, the gains from Regional Value Chains and GVC participation are not automatic. Opportunity only means what is possible and not what will happen. These would require a broad set of policies with a particular focus on trade facilitation, investment, transport infrastructure, and access to finance. But beyond these, it would require a critical mass of political leaders on the continent with capacity to think globally, act locally and understands what it truly mean to be a leader on the African continent in a globalised world.”
Saraki who said he shared the notion of those who reject the tag of Africa as a piggy-backer on the global economy as rather simplistic given the remarkable political and social transformation that the continent had undergone by the end of the last century.
“Democratisation and the more accountable governance system that comes with it, promote a way of thinking and doing things, which in turn create more conducive environments for business and investments. It was hardly a coincidence, therefore, that the Africa Rising mantra emerged about the time that almost all the countries of Africa had embraced constitutional democracy as the only legitimate form of government,” Saraki added.
According to the Senate President, for Africa to reap the demographic dividends, it must make the right investments in quality higher education and create the right conditions and opportunities for entrepreneurship and employment.
