Short Overview of African Countries
technologies to leapfrog more advanced economies
However, none of these challenges is insurmountable; in fact, some
entrepreneurs would contend that African risk is lower than that even of
North America.
There is hardly could be a person, who is able to resolve all the
problems considering the challenges in the list. But there are a number of
tasks to be completed in order to improve the quality of life and gain
stable economic growth.
Resource mobilization To halve poverty by 2015 countries must reach
the 8 percent growth in GDP each year, instead of present 4.4 %. To reach
this rate investments must be 40 percent of gross domestic product. Even
with major increase in domestic savings, there are still huge financing
gaps. Africa’s rate of return on Foreign Direct Investment is 29 percent
per year, higher than any other region of the world. Annual average foreign
investment flows have increased from $1.9 billion in 1983-87 to $6 billion
in 1993-97. But this is just 4 percent of the total investment pouring into
developing countries. In the face of global financial volatility, Africa's
nascent capital markets have also remained buoyant. Yet institutional
investors remain resistant to the possibilities in Africa. African
countries have undertaken significant economic reforms, but investment has
not come.
Regional co-operation Regional integration is the key to Africa's
success in the 21st century. The challenge is for the subregional
initiatives to march together and in step with the World Trade
Organization.
Information technology Information and communication technologies
present some of the most exciting possibilities for Africa in the new
millennium. “With new ways to communicate we can leapfrog through several
stages of development; cut the cost of doing business; and narrow the gap
of huge distances. …At ECA, we want to make sure that Africans are drivers,
not passengers, on the information highway…” says Dr. K.Y. Amoko, executive
secretary, Economic Comission for Africa. at the National Summit on Africa
held in Washington D.C. 17 February 2000. There was registered a
significant growth in Internet spreading through the continent. E-Commerce,
television and radio are also developing rapidly.
Governance Ensuring and sustaining good governance must be an African
responsibility, first and foremost.
Social investment. Social spending has become a major casualty of
recent budget cuts in many African countries. To expect that Africa can
progress when investment in its human capital is declining is a classic
case of being penny wise and pound foolish. Social investment challenges of
health, education, housing, water supplies and sanitation are enormous and
demand the creativity and partnership of all caring parties.
Gender equality Excluding Islamic countries, Africa is the most
remarkable region in terms of discrimination against women. Since the UN's
Fourth World Conference on Women in Beijing in 1995, the world better
understands the need to free women to become equal participants in
development. This is not just a matter of rights but of good economic
sense. “It is past time to lead by rhetoric; it is time to lead by
example.” (from the National Summit on Africa documents”)
Preventing conflict The world has learned expensively that it is
cheaper and far more humane to prevent conflict than to fight a war. So it
is one of the most actual problems for African countries. To quote the UN
Secretary General, "in the past twenty years we have understood the need
for military intervention where governments grossly violate human rights
and the international order. In the next twenty years we must learn how to
prevent conflicts, as well as intervene in them." Peace can no longer be
just about peace making and peace keeping. It is also about peace building.
African diaspora must also take part in ongoing processes. A lot of
Africans live in European countries as well as in United States. They are
able to help their historical homes in three major ways.
First, Become an Advocate for Africa: For every devastating image of
Africa they see on television, not far from that camera there is an image
of people striving to develop. As a start, they should visit Africa, spread
the word about it, become a personal lobbyists for Africa. They must lobby
for African products in their stores; lobby for strong US-Africa ties.
Second, Invest in Africa: Investing in Africa could be profitable. Now
is the time for African-Americans to put their money where their mouths
are. They can invest in Africa, through such convenient ways as the mutual
funds that concentrate on Africa. Members of other diasporas have
accelerated development in their ancestral homelands through widespread
individual investments. Surely African-Americans can do it, too.
Third, Invest politically in Africa, 40 percent of United Nations
assistance is currrently going to Africa. When the US and other flourishing
countries pay their UN dues, when someone pays voluntary contributions
to United Nations he/she helps Africa. Foreign aid helps building schools
as well as improving governance in terms of efficancy.
While many write off Africa as the continent of despair, other
enterprising individuals and organisations have recognised the huge,
untapped potential of Africa and are actively pursuing business ventures
across the continent.
African Development Indicators show clearly where the regions greatest
social challenges and opportunities lie. Indeed, Africa's future economic
growth will depend less on exploiting its natural resources, which are
being depleted and are subject to long-run price declines, and more on its
labor skills and its ability to accelerate a demographic transition.
Africa's opportunities, which range in risk from investing in emerging
market funds or one of the listed multinationals active in Africa to
trading with African partners, include:
. oil and gas (Angola and Libya);
. mining (West and Central Africa);
. privatisations (South Africa and Nigeria);
. international trade (oil producers and SADC);
. infrastructure (pipelines, roads, telecommunications);
. stock exchanges that are mushrooming in many countries
. using educated English and French speaking African nationals
. and leisure (big game + beaches + golf + climate + satellite +
Internet + cell + low cost structure = huge telecommuting
opportunity).
However, perhaps Africa's greatest opportunity lies in its
biodiversity, which ranges from Sahara desert to tropical jungle, from snow-
capped volcanic Mount Kilamanjaro to the beaches of East and West Africa.
Then there is the excitement of stalking big game in the African bush to
the thrill of whitewater rafting through the gorges below Victoria Falls or
the awe of seeing the Egyptian pyramids at sunrise. Africa is going to
become the telecommuting centre of the world, in the short to medium term,
ecotourism provides the opportunity to develop leisure complexes which can
take advantage of game parks, golf courses, beaches and beautiful scenery
one day. “We need to stop thinking of ourselves as a single engine train,
but rather a jumbo jet, with several engines revving up for take off, and
several more back ups in case of engine failure.” said K.Y. Amoako
Executive Secretary of ECA at the 40th Anniversary of Africa Confidential.
6. Conclusion
At the end few words comparing Armenia with the African region. The
main difference is different natural resources of these regions. Africans
may get started their economic growth with incomes from exporting oil, gas,
precious metals and jewels. Alas, Armenia have no this option. Our country
have no significant resources to exploit them or not to exploit, meanwhile
for Africa devastation of resources may stimulate the economy in the case
of peace and efficient government. There are also a lot of differences in
terms of agriculture. Arfican countries cover wide territory, but they have
problems with irrigation. In the case of Armenia it is important to note,
that the situation is just the opposite. Even the most severe droughts can
not be compared with deserted areas of black continent, but the land is
highly limited. I think that the last point of comparison, which is as
important as the previous ones, is the labour force. Labour force is one of
the main differences between former USSR republics and the developing
countries of African region. As a result of USSR educational system Armenia
has educational level which can be easily compared even with the most
developed countries.The level of literacy is 99%, which is higher than in
African countries. Armenian in spheres of programming, medicine, science
highly priced all over the world. The main problem in these sphere is brain
drain. So the primary task for government is to stop this process. With the
foreign investitions Armenia is able to establish advanced technology
production, which is not available for Africans. This could be a good
impulse to become a new “tiger”.
So our regions have different prerequisits, different ways of
developing, but same aim, and unfortunately obstacles in terms of
government and unstable peace.
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Algeria
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Angola
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Botswana
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Cameroon
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Chad
[pic]Congo(Zaire)
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Djibouti
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Ghana
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Kenya
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Lesotho
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Mozambique
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Rwanda
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Zambia
[pic] Zimbabwe
