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Why Africa needs to fend for itself

Publish date: 17 January 2022
Issue Number: 956
Diary: IBA Legalbrief Africa
Category: Economy

Global solidarity is a chimaera, democracy is amorphous and the rule-based international order is an ass. Well, at least as far as the continent of Africa, her people and their livelihoods are concerned. That’s the view of Tebogo Khaas who points out that the sooner African leaders wake up to the fact that there will never be a cavalry sent to salvage the troubled continent from the marauding horsemen of disease, poverty, deceit and war the better it shall be for prospects of Africa’s renaissance. In a Mail & Guardian analysis, he notes that a great deal of the world system and the survival of nations is determined by chequered and undemocratic political systems largely influenced by the whims of ‘democracies’ that don’t know nor truly care about Africa. ‘Whereas the Berlin Conference of 1884 triggered a precipitous scramble for African territory by a plethora of European nations, the current scramble for the continent’s natural resources by major global political and economic rivalries portends deeper economic and political hardships for Africa. This could also serve as a harbinger for the continent’s continued political instability and economic insecurity. As the global transition from fossil fuels to a renewable energy system gains impetus, increased demand for base minerals and precious metals has triggered a spike in major countries’ interest in Africa.’ However, Khaas notes that despite traditional institutional investors having more than $100trn in assets under management globally, a miniscule portion of this is directed towards ameliorating Africa’s annual infrastructure investment gap.

Full analysis in the Mail & Guardian

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