Editors Desk
Trying to keep sight of the future on a foggy day.
A wise old man once told me where there is life there is hope. I have held on tight to these six words in the darkest of days – along with my sanity.
I needed them more than ever 18 months ago when COVID-19 dealt its terrible blow to our lives and the economies of Africa.
I worked right through the pandemic -one depressing TV bulletin after another -in what could almost be an understatement -a solemn mood. People were dying , the streets and shelves were empty – age old businesses disappeared .
I have seen most catastrophes in 40 years f journalism; I had always prided myself in seeing the future on a foggy day. In the pandemic, all I could see was damp and gloom.At the very least, the Global Business Forum Africa in Dubai brought a few shards of light as the business world picks its way out of a very dark and thorny forest.
Everywhere, there seemed to be influential people talking up the prospects of the African continent – many of them entrepreneurs risking their own money. It was Billionaire Tomorrow’s first invite to the continental business stage and I relished it. Everywhere there were precious fragments of information about how private money is trying to ease the continent’s economy from the doldrums.
Often these fragments came from surprising places – Zimbabwe for one, an economy that has been struggling for a generation. Vice-President of Zimbabwe Constantino Chiwenga told how the pandemic had awoken the manufacturers in his country.
“Never waste a good crisis,” he said paraphrasing Winston Churchill. “If you go into the shops in Zimbabwe these days more and more products are made in Zimbabwe.”
Chiwenga hoped the good soil of Zimbabwe, plus its tourism, wildlife and resources could be its economic salvation. Namibia is hoping to diversify from resources – like uranium and diamonds – to more investment in manufacturing, according Nangula Nelulu Uaandja, the head of the country’s new investment, promotion and development board. The reality is Namibia lost about 8% of its GDP through the pandemic and needs investment like a man lost in the Kalahari Desert needs a drink. It is trying to cut red tape and uncertainty to encourage investors, which is probably a good idea for most nations in Africa right now.
The hope , among many here, is that governments will realise that this is it: this is crunch time for everyone.; the chips are down and government needs to clear the path for foreign investors. The harsh fact is that returns to investors shrank during the pandemic .
“They used to be 15 to 20 per cent, now they are between five and eight per cent,” says a banker with $8 billion sunk into Africa. Maybe youth is the spur – young Africans ready to risk and work all the hours God sends to create wealth and jobs.
Like Sangu Delle, a son of Ghana not far past his 30th birthday, who has an irrepressible delight for life and making money. A man who turned his first bucks transporting a truckload of cows from Burkina Faso – why ? Because kebabs in Ghana were too expensive – of course. You will hear more of him and his rich story in our columns at Billionaire Tomorrow.
Keep looking for the future no matter how foggy the day is !!.
Like Sangu Delle, a son of Ghana not far past his 30th birthday, who has an irrepressible delight for life and making money. A man who turned his first bucks transporting a truckload of cows from Burkina Faso – why ? Because kebabs in Ghana were too expensive – of course. You will hear more of him and his rich story in our columns at Billionaire Tomorrow.
