Why Africa Needs To Reduce Foreign Investment (Opinion)

Why Africa Needs To Reduce Foreign Investment (Opinion)

Fayoke Shyle

It is no more news that the world is now turning towards Africa for their next line of innovation and product introduction.

While the world is busy seeing Africa as their next goldmine, Africans are seeing their home as the reason for their poverty.

The hidden truth is that Africa will soon become the bone of contention between big dogs, in the form of civilised nations from across other continents. Investment is a form of debt that one way or another has to be paid.

When you take a long look at the genealogy of man, you will find embedded in it the innate desire to conquer and gain mastery over something, somewhere or someone.

If we take a trip down history, we will find this fact to be affirmative, as it has and will always be the reason for strife and conflict - the desire to conquer.

Bearing in mind that barren/fruitless lands are never contended for, we can answer the question: ‘What are Western countries trying to do by investing in Africa?’

Of course, it is the resources they can get and future domination of the region. The more the Chinese and the rest of Europe invest in Africa, the more they possess.

What, therefore, is the solution to this impending doom for the continent?

Effort must be made to allow for more African-based businesses to succeed and grow.

Resources and support should also be given to tech start-ups, to allow them to compete with the Western countries.

The government, at every level, must understand that foreign investment is not the only solution, because there are several things that cannot be invested in by foreigners. This is the government’s sole responsibility to carry out.

How many businesses survive in Africa, and sadly even in Nigeria? Just a few. We must understand that the true rise of any nation’s economy is in the number of small/medium scale businesses.

If the continent is to survive and increase its self-dependency, there has to be a collaborative effort by the African Union in ensuring that the free trade deal that was signed into law takes effect immediately.

Happenings Media