Creating Consistent Economic Opportunities should be the Priority...

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"Give a man a fish and you feed him for a day; teach a man to fish and you feed him for a lifetime..." Lao Tzu

Foreign Aid is a crutch that can never support Africa's quest for sustained economic development. Innovation will not increase on the continent as long as foreign players ship in and ship out their talents with little to no knowledge and technology transfer. Foreign Trade however, is the key because international trade drives global wealth distribution.

We have seen it happen for China, in places such as Vietnam, Chile, Bangladesh, Cambodia. Connecting regions to the international supply chain unlocks new and sustained opportunities that will drive local employment. You can not build a sustained economy on donor funds because donors control where and how the funds are allocated often towards feeding for today and not tomorrow...

In my Trade and Investment Facilitation Masterclass I covered in detail the difference between Foreign Aid and Foreign Trade and why Africa's leaders must fully prioritize trade for their regions. In my last post I also shared 10 Reasons Why Africa is Disconnected from the Global Supply Chain! Each of those must be tackled to address trade and investment gaps. Africa's youth deserve an opportunity to compete with the rest of the world. By 2050 it is projected by the World Bank that the population on the continent would have doubled which would create a young and vibrant population.

The goal needs to be that this new population be equipped with relevant digital skills required to become a PRODUCTIVE Workforce. With the history of Africa in war driven largely by conflicts in resources rich regions and migrations in the Sahel the situation if not adequately managed could quickly go south. But I am optimistic about the future particularly on the economic potential that lies should the African Continental Free Trade Agreement (AfCFTA) be implemented swiftly. If you wish to learn more about the AfCFTA I hosted the AfCFTA Roundtable and you can watch replays here - https://www.afcftaroundtable.com/

To create sustained economic opportunities there is a need to map out end to end value chains and drive investments in each pillar which is why I developed the Trade with Africa ® Framework. I use this framework in my consulting practice and also to guide and coach members of my Business, Trade and Investment Network. You can become a member here -www.nazaru.trade

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Toyin Umesiri is the Founder of the acclaimed Trade with Africa Business Summit, CEO of Nazaru LLC. and leads the Business, Trade and Investment Network formerly Trade with Africa® Network; a fast growing community of Trade experts, Government officials, Policy makers, Investors, Exporters, Service providers, Diaspora leaders and Innovators growing Trade with Africa®.

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