Nonny Ugboma is the Executive Secretary of the MTN Foundation (Image source: Nonny Ugboma)
The hand-me-down capitalism models Africa inherited from her colonial masters have failed to yield a prosperous continent despite its vast resources. Therefore, Africa is in desperate need of something different that takes into consideration its unique history, qualities, and context.
Experts have mostly seen the interdependence of businesses and society as transactional, with the society needing business for products and services, for jobs, for government taxes revenues. In turn, business needs the society for the market, sales and profits and public infrastructure, security and the rule of law! According to Amaeshi (2019) businesses, though sympathetic to societal challenges, are reluctant to act positively through their companies as they sometimes see such requests as irrelevant to their objectives.
However, due to the interdependency and interconnectedness of business and society, companies must work collaboratively with the government for a common purpose. That purpose is to build local resources.
There have been calls for western economies to rethink their capitalism model (Jacobs & Mazzucato, 2016). There have also been calls for Africa to develop its model of capitalism, with theorists and entrepreneurs exploring ideas like Africapitalism (Amaeshi, 2015). Africapitalism, coined by Nigerian entrepreneur Tony Elumelu, focuses on the role of business leaders, investors, and entrepreneurs on the continent’s development to create economic prosperity and social wealth. It rests on the following four pillars: a sense of progress and prosperity; the sense of parity and inclusion; a sense of peace and harmony; and a sense of place and belongingness.
Africa does need its model. However, I would argue that this model should be spearheaded by the state in collaboration with willing stakeholders in the private sector and third sector, unlike Africapitalism. A government-led push is especially relevant now that a few 21st century economists are reassessing and rethinking capitalism in its present form. One of such critics is UCL’s Mazzucato (2018) The Entrepreneurial State: Debunking Public vs Private Sector Myths who debunks the mainstream neo-classical narrative that the private sector alone drives innovation but takes the position that the state is the driver of innovation.
Mission-Oriented Innovation Approach (MOIA) could help address some of the identified gaps to ensure state and business work jointly to solve grand challenges, to co-create public value and co-shape a robust and sustainable society that it can bequeath to future generations.
There is, therefore, a need for an alternative model of collaboration for business, society and government. A suggested way forward for Nigeria, and indeed Africa, is to embrace a mission-oriented innovation approach. The concept of the mission-oriented approach that involves government co-creating and co-shaping the market with the private and third sectors has enormous potential for Africa. The four pillars of ROAR, developed by Mariana Mazzucato (2016), is a useful tool-set to anchor MOIA in Africa:
1. Routes and directions– Government and Public institutions and agencies to set
missions. Also, private sector leaders can nudge government agencies to agree to
work collaboratively on national priority areas.
2. Organisational Capacity– Building of dynamic Capabilities within the Public sector through advocacy, capacity building, conferences and training.
3. Assessment and evaluation– Agencies, academia and organisations to determine new
dynamic tools to assess public policies to create new models and markets.
4. Risks and rewards– Government and private organisations need to engage on the
best risks and rewards sharing formats from initiatives to ensure smart, inclusive and
In conclusion, as Western Economies are reviewing and rethinking capitalism and their operating models, Africa must ensure she does the same. The reason is that the future of the development of the continent depends on the economic model that it chooses to adopt, in the future, especially with the growing youthful population.
Aurthor: Nonny Ugboma is the Executive Secretary of the MTN Foundation and has recently returned from one-year Sabbatical studying for a master’s degree in Public Administration from the University of London Institute for innovation and Public Purpose.
Presidential Candidates Nigerians should not consider voting for in 2023 – Adaku Efuribe
Nigerians would be going to the polls in 2023 to elect a new president. I have written a lot of articles in the past regarding qualities of a great leader, but going by the understanding of most Nigerians, it would be more sensible to discuss the character of candidates not suitable for the job to enable us to separate the goat from the sheep so to say.
In solving mathematical equations, we sometimes use elimination methods to arrive at the correct answer. if we all know who we shouldn’t vote for, perhaps we could pinpoint who the possible suitable candidates are.
If we want to improve our economy and place Nigeria in its rightful place in world affairs then we must make conscious effort to ensure people with certain character flaws do not come anywhere close to the office of the president
Nigerians must not consider voting for candidates with the following character flaws/history.
Some of the candidates who have declared interest have been known to tell false tales to Nigerians in the past. A good example is a notorious fella who once made Nigerians doubt their cognitive ability. A few thought they actually suffered from short term amnesia. I wouldn’t tell you who to vote for but do not vote for liars, especially the one that woke up one morning shouting enough is enough! he went ahead to say he would be staging a protest against the present Government, he talked about a dream he had in which God revealed to him what he must do…Then the next day ..he said he wasn’t referring to this Government.
Anyone who has been involved in advance free fraud, misappropriation of public funds or lack of accountability must not be voted for if we want to move forward in this country. A leopard cannot change its spots. To be forewarned is to be forearmed.
People with unaccountable wealth
Any candidate who cannot explain the source of their wealth is not to be trusted. Some people just spring up from nowhere to tell us God made them rich and no one can comprehend their source of wealth. We have had public servants who could not give account of the budget of their former office or keep an open book on how they spent public funds, such people will only continue to loot the treasury if given the opportunity.
Aspirants who do not believe in cutting down the cost of Governance
The GDP in Nigeria has depreciated over the last 8 years and part of the reason why we cannot come out of economic hardship is the cost of Governance. We spend a lot of money on the welfare of elected Government officials and legislators, more than most developed countries. There is definitely something wrong somewhere. Any candidate who does not believe in cutting down the cost of governance will only do one thing i.e.- continue to use public funds to fund their lavish lifestyle while the masses die of hunger and economic hardship.
Aspirants with no proven track record of effective leadership
Anyone who does not have any proven track record of leadership should not dream of becoming Nigeria’s next president. This country has sunk really low and we don’t have to operate anymore experiments. We don’t need the usual ‘I can do’ attitude. It’s either the proven experience is there or not.
Once again, the power would be placed in your hands to redecide the trajectory of our beloved country Nigeria. I intend to vote and my vote must count this time around. I know exactly who I will be voting for as I do not operate with sentiments. For us to see our country rise up again from the dunghill, I enjoin you all to have an open mind and consider the future of this country with any decision you make.
Article by Adaku Efuribe, Health Promotion Ambassador/Political analyst.
World War 3? Africa’s opportunity
It has often been said that when elephants are fighting, the grass is the one that suffers the most. And this statement is highly applicable to Africa in the ongoing Russia-Ukraine conflict. Whereas the European countries are fighting a physical war, Africa’s fight against economic challenges such as poverty, unemployment, trade deficit and starvation is worsened by the conflict. Barely a fortnight into the conflict, global commodity prices have been on the rise and had adverse effects on import dependent countries. What lessons can African nations pick from the conflict and what low hanging opportunities can be explored?
Both Russia and Ukraine are important players in agricultural production, supplying about 30 percent of the world wheat and barley. In 2020 alone, African countries imported agricultural products worth about $6.9 billion from the two countries. However, the conflict has caused a disruption in the global supply chain of agricultural products. Essentially drying up exports as evidenced by the supply ban imposed by Ukraine, resulting in higher prices and stockpiles reducing. The global citizen report estimates that over 500 million people would be forced into hunger because of the food crisis arising from the conflict. There is a supply gap created which will lead to importers to seek alternatives markets. And therein lies the opportunity for African countries to stand out as global suppliers of these agricultural products and fill the gap.
Historically, Africans are farmers who have survived on agricultural production mostly at a micro level. Africa is blessed with arable land and good climatic conditions that support the growth of various products but productivity has remained low over the years. To take advantage of this situation calls for deliberate efforts to direct resources into growing the agricultural products in large quantities and benefit from the sales. To boost productivity faster, farmers could be incentivised through the use of outgrower schemes. Which are systems that link networks of unorganized smallholder farmers with domestic and international buyers. The identified agricultural market requires that both farmers and countries expand their capacities by investing in equipment and modernisation for higher output. The after effects of the crisis are projected to last for extended periods of time but for those countries that will emerge as gap fillers stand to benefit for a long time.
While it can be argued that globalisation and trade have been a key driver for growth and economic expansion for many nations, the gains have not been fairly distributed especially in Africa. Intra-Africa trade when compared to external trade accounts for a smaller percentage and hence the observed vulnerability of African trade to external factors. Imagine, while Africa is neither physically involved in the Russia-Ukraine conflict nor imposing any sanctions on these countries. The effects of these two factors in derailing economic progress is worse in most African countries. Oil is a key input in various sectors of economies and the affordability and access to it has an impact on economic growth.
The crude oil prices are daily breaking record prices and for the many oil importing countries especially in Africa are at the receiving end of the spillover effects. Such as high cost of doing business and rising inflation which is detrimental to their economies. It defeats economic logic that African countries import oil from outside the continent, spending huge funds on transportation despite having neighbouring oil producing countries. The oil producing African countries should consider prioritising African nations for their exports to ensure that the continent is oil secure and the economies are thriving. Where possible, a differentiated preferential price which should be lower than the global price should be considered to ensure affordability and support to African nations.
The implementation of the Africa Continental free trade area, which has been envisioned as a game changer in African trade, has stalled with frequent postponements to actualisation. The current European conflict should be viewed as a catalyst for trade reorganisation in Africa and ACFTA implementation. This is because the crisis has indeed created a gap in trade and there is no guarantee that African nations could be prioritised in importing from the European countries that also have pressing needs. Self-sustenance in intra-Africa trade should be the target because, decades after independence, Africans cannot forever be dependants. Who are vulnerable to external factors which do not directly concern them.
While the conflict has devastating effects on some countries, it actually creates an opportunity for others. The identification of the comparative advantage that nations have in either current production or potential production is what should preoccupy those not participating in the physical fight. The current capacity in most African countries to manufacture products may not be able to compete with developed countries that have advanced technology. But in terms of primary produce, African nations have huge unexploited potentials.
Each country should introspect, organise its people and resources in targeting the global market. This is a matter of expanding what is already being produced and organising smaller businesses in bundling their produce. Working out strategies that will see individual countries to be a solution to a looming global crisis and benefit their nations in the process. If the opportunity is well taken and African nations stand out as solution providers, it could be a turning point for them to recover from indebtedness and economic challenges they have perpetually faced.
The looming crisis could just be a test to examine the capability of developing countries to switch from being dependents to being solution providers. The focus should not be on the current investment costs to be incurred. But rather the benefits that have potential to erase economic challenges when potential is exploited and opportunities seized.
By: Nchimunya Muvwende, Economist
Hamzat Lawal: Nigerian youth should pick a leader and support the person
Hamzat Lawal, Founder of Connected Development is one of the initial advocates for Anap Foundation. He has encouraged youths to shun any form of violence that might escalate to war or unnecessary bloodshed as the 2023 elections season gathers momentum.
Hamzat noted that ‘’Nigerian youths should pick a true leader and support the person from the beginning till the end. Don’t wait for a list and be searching for a lesser evil. Mobilize and rally behind a qualified candidate, Let’s Vote, let us take a chance at changing the trajectory of this country in 2023’’.
Hamzat Lawal position is coming as Anap Foundation kick-starts its enlightenment campaign themed, GoNigeria. A campaign to sensitize Nigerian youths to participate actively in the electoral process leading to the election of visionary leaders during the general elections come 2023.
Anap Foundation will be partnering with the Independent National Electoral Commission [INEC] and other advocates, celebrity ambassadors, corporate bodies. As well as volunteers in ensuring a huge success is attained in encouraging the youths in understanding that their votes count in having the right leaders at the country’s helm of affairs.
The campaign is in full gear with collaboration from the initial advocates of Anap Foundation. Who have intensified efforts at encouraging young Nigerians to register and collect their PVC to vote in next year’s general elections. Towards ensuring good governance and accessing the true dividends of democracy.
The initial advocates are Aisha Yesufu, Active Nigerian Citizen; Nuruddeen Lemu, Director, Research & Training, the Da’wah Institute, Islamic Education Trust. Also, Dike Chukwumerije, Poet; Folarin Falana (Falz), Musician, Actor, and Entertainer Atedo Peterside, Founder of Stanbic IBTC Bank and President & Founder, Anap Foundation. Bishop Matthew Kukah, Catholic Church, Sokoto; Arunma Oteh, Chairperson, Royal African Society and Scholar, University of Oxford. Hamzat Lawal, Founder, Connected Development (CODE); Tomiwa Aladekomo, National Chair, Youth Party; Osita Chidoka.