solutions will bring J. J. OMOJUWA

ONCE UPON A TIME IN AFRICA Africa was about wars…Nigeria, Angola, Burundi, DR Congo, Eritrea, Congo… Apartheid; South Africa Famine; Malnourished children were the image of the continent Political instability; military rule and unpopular governments were the norm Foreign Aid and corruption AIDS It was dark in here Today’s Africa Unprecedented economic growth in a world where growth is a rarity Increasing middle class A trading continent Representative democracies General optimism An Urbanised continent Africa at 40% of the population is more urbanized than India at 30% and is only just less urbanized than China at 45% The rapid rate of urbanization and population growth has ensured that Africa has one of the fastest growing labour forces and consumer markets in the world Consumers and opportunities are like sugar and ants, they find each other ATTRACTING NEW INVESTMENTS The United Arab Emirates has invested $97b in Africa over the last decade…Nigeria’s Etisalat is one of those. China’s direct investment into Africa reached $14.7b in 2011, a 60% leap on its 2009 numbers South Africa’s Stock Exchange is the 18th largest in the world, Nigeria’s Stock Exchange is one of the world’s most profitable The European Union has more investment in Africa than any other region, over 40% of foreign investments in Africa More positives for Africa China will age within decades! Only 28% of the Chinese population is under 20, in Africa 50% of the population is under 20. This matters to you if you are under 20. Ask me a question about your personal reality against this African reality China will lose 10 million jobs over the next decade. Africa is poised to attract these jobs. In 2040, there will be more young people in Sub-Saharan Africa than there will be in East Asia THE AFRICAN DIASPORA In 2012, Africans living outside Africa sent $60b (about N10 trillion) home A lot of them are returning and more will return with their expertize Nigeria is experiencing a reverse-brain drain The African Diaspora will become a socio-economic force going forward THE NEW AFRICAN CONSENSUS Economic Liberalization and Privatization are creating more efficient and effective market systems in Africa War and military coups are no longer the norm, democracy and representative governments have come the new continental consensus Intra African Trade is set to grow from its current 12% due to a consensus on regional integration Africans Investing in Africa has become an African reality. South Africa and Nigeria are running the show The world’s food basket The world will need to feed 9 billion mouths by 2020, Africa can be its food basket According to McKinsey and Company, Africa’s Agricultural production has the potential to reach $880billion by 2030, from $280 billion in 2008 A sizable number of the world’s arable land is domiciled in Africa, Africa could become the world’s farm NEW SOLUTIONS, NEW CHALLENGES Africa was built to ship its resources to the world because of colonial realities Africa must now build to trade with Africa African integration will be built on necessary new infrastructure; why do you think Nigeria’s Aliko Dangote is either in or planning to be in 33 African countries? Africa is doomed to build Three words that define the new Africa Opportunities Opportunities Opportunities WHERE IS YOUR PLACE IN THIS AFRICAN REALITY? Your generation is the bearer of Africa’s tomorrow; you will either live with its prosperity or perish with its poverty! Your destiny is in your hands but only just for a moment Tomorrow’s opportunities will throw tomorrow’s challenges at you. New challenges will arise We need thinkers, we need innovators, we need entrepreneurs A digression: money All paychecks are limited! Those who live on paychecks will be limited by the limits of their pay Africa does not need men and women who depend on paychecks, we need those who pay paychecks Those who waste time today will be wasted by poverty tomorrow Time will be
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