Page 66 - Msingi Afrika Magazine Issue 11
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ECONOMY
IMF`s economic assassination. biamila, has initiated the Con- Africa`s leaders must unite to
ference of Speakers and Heads demand that all debt which has
The African Continental Free of African Parliaments (CoSAP) been accrued for anything ex-
Trade Agreement (AfCFTA), which is the body that is launch- cept constructing infrastructure,
will not create prosperity with- ing the African debt write-off which includes health care and
out massive infrastructure campaign. The 7 countries water sanitation, will no longer
development. Without transport represented are Nigeria, Ghana, be paid. It will instead be re-in-
networks, AfCFTA is like a body Ethiopia, Kenya, Rwanda, Sen- vested into the physical econo-
without veins. egal and South Africa. Algeria, my for the benefit of all.
Morocco, Cote D’Ivoire, and
Aliko Dangote of the Dangote Cape Verde have also expressed Building the physical economy
Group and financier of Nige- their desire to join. of central Africa, must begin
ria`s first oil refinery has said with international financing
that infrastructure is more Professor Aaron Oquaye, Gha- of the Transaqua Project. To
important right now than any na’s Speaker of Parliament construct the world`s largest
trade agreements and that recently gave an interview with engineering project, will re-
manufacturing and processing CGTN in which he called for “a quire a change of heart, will and
of goods on African soil has to New Paradigm.” ” A New Par- motivation from the private-
become a priority, but for that, adigm”, he said” which cannot ly-owned central banks. In fact,
infrastructure once again takes take place under the present it will require that the bank-
precedence. world [economic] arrangement.” ing order is replaced by a new
He said that debt servicing was Bretton Woods system which
Lawrence Freeman, Africa ana- a game of “robbing Peter, to pay extends credit for mankind,
lyst , explains the importance of Paul” creating a never ending not for money. Those that gave
infrastructure : “cycle of poverty, misery and Africa economic assassins want
disease.”. “Debt cancellation”, he to fool us again with their phony
“What African nations most said “is a matter of liberating version of a New Bretton Woods
desperately need, and which will us.” In other words, it is a final [3], under their Great Reset,
have the greatest impact of their end to colonialism.”And in or- which is a zero-growth policy.
economies, is infrastructure, der, even, to maximise our raw In terms of Africa, it is to kill
infrastructure, and more infra- resources, we need a new world the African Dream.
structure. It is not hyperbole to economic order. How do we
state that the lack of infrastruc- balance processing? For exam- Stop greening the debt, stop
ture is responsible for millions ple, taking our foods, vegetables politicizing the debt. Review the
of deaths on the continent. The and also fruits, processing them debt and where applicable re-in-
dearth of on-grid energy, argu- in competition against foreign vest into the physical economy.
ably the most crucial compo- cheap products? No country,
nent of an industrialized-man- ever, in this world, you know,
ufacturing society, is preventing got economic self dependency Footnotes/sources;
African nations from attaining by allowing cheap competition..”
the levels of economic growth Professor Oquaye is not advo- https://youtu.be/jzRRb3ArSzU
required to sustain their popu- cating for total isolationist poli- [3]
lations.” cy but against the utterly unfair https://youtu.be/7JIbZAkWRE0
In October, 7 African parlia- advantage of the mega-corpo-
ments called for the continent`s rations that have been the only PD Lawton is a writer and researcher
debt to be annulled. The Speaker beneficiaries of the financial of African affairs , born in KwaZulu
of the Nigerian House of Rep- elite`s `globalism`.[2] Natal, South Africa. He quotes Thomas
Sankara who once said, "We must dare
resentatives, Rep. Femi Gbaja-
66 | Heal . Restore . Rebirth . Afrika ISSUE 10 JAN/FEB 2020
