· Advocates Martial Plan to Boost Electricity And Ease Debt Burden
· Wants Youths Prioritised as SMEs are Empowered
United Bank for Africa (UBA) Chairman Tony Elumelu says the coronavirus pandemic currently ravaging the world presents an opportunity to reset the African continent, so that Africans can be empowered to become more productive and self reliant.
He said this today at the high-level Roundtable discussions made up of African leaders including Dr. Ngozi Okonjo – Iweala, the Special Envoy of the African Union on Covid-19, and Tidjane Thiam, who is also a Covid-19 Special Envoy responsible for mobilising international economic support for Africa.
During the session titled ‘Resilient World: An African call for a new world order’, Elumelu stated “I see this pandemic as an opportunity to reset Africa.’
Whilst pointing out that Africa as a continent has all it takes to emerge into a strong digital economy, the UBA Group Chairman advocated a martial plan that will galvanise the entire continent and make Africa less dependent on the ‘circularity of debt’ from developed nations, which according to him, has been a major setback for decades.
He said, “I feel that as we engage the rest of the world in providing relief, we need to look for a more fundamental solution to Africa’s challenges. I have often argued for a martial plan overtime.
We need to mobilise everyone. If we have a martial plan that mobilises resources to address particular issues, then we can mitigate against this constant begging for assistance.”
Elumelu said, “The truth is that we have resources to help mobilise people.
As the founder of the Tony Elumelu Foundation, we committed to endow $100m to support young African entrepreneurs and we have been seeing the positive results this has yielded so far.
It is evident that if we can fix access to electricity, ensure stability of the macro-economic environment, ensure prioritisation of the youth, empower our small and medium scale enterprises and fix youth migration, then we are in for a better and more resilient economy’.
“There is the urgent need to prioritise our youths and empower our SMEs. The people who work hard need to be encouraged,” Elumelu noted.
Tidjane Thiam who supported what Elumelu had proposed, said that rather than depend on international assistance at every point, there is the need for governments and institutions to invest in activities that will prioritise the youths and create a better enabling environment.
“I totally agree with Tony Elumelu. The major challenge is that we do not see enough entrepreneurs.
Similar to what obtains in Asia and Europe, there is the need to promote a class of Entrepreneurs to drive the African economy. we need to groom more Tony Elumelus’ from Africa’ he said.
Tidjane continued, ‘We know what needs to be done. We need government and multinational institutions to bring in capital so that there will be investment in health, infrastructure and the like. We do need to get rid of this debt cycle because constant rescheduling and begging for relief for debts is not good for us as a continent,” Thiam said.
Okonjo-Iweala, on her part, called for a system where youths and women will be empowered to create and produce more to boost the African economy.
Whilst calling on private and government parastatals to engage in meaningful partnerships that will help to galvanise job creation and entrepreneurship among youths in Africa, she said, “As Tony pointed out, we can see this pandemic as an opportunity for the continent. We have the African Free Trade Agreement, and we have to make it real.
“We have to specialise our countries to manufacture the things we need so we can trade with others. We need to produce good jobs for our young people. We need to empower our women and youths and put them at the centre. It is said that Africa would have the largest number of youths in the world by 2050, so we need to fix this,” she noted.
The roundtable which was organised by the New York Forum Institute, also had in attendance African Heads of States including President Mahamadou Issoufou of Niger; President Uhuru Kenyatta of Kenya; President Alassane Ouattara of Cote d’Ivoire; President Macky Sall of Senegal and President Julius Bio of Sierra Leone;
Victor Kalalanda is a final year media student at the University of Zambia, and he is the current managing editor of this online newspaper, the Lusaka Star. His expertise as a final year media student straddles two vastly different countries, namely Switzerland, where he worked for a top-tier media agency as a B360 Digital Marketing Global Intern, and Zambia, where he has, as either stringer or intern, competitively held jobs with all State-owned media—the Times of Zambia, Zambia Daily Mail and Zambia National Broadcasting Corporation (TV1 & TV2). For additional media production skills and insights, he completed a two-months internship with Loyola Media Productions & Broadcasting Zambia Limited—and continues to serve with a campus radio station as a reporter, news and show presenter. Before university, he survived on a series of odd jobs, later worked as a street hawker, itinerant security guard and barman, during which time he suffered bouts of humiliation and poverty, and vowed that if he ever got a real chance at life, he would die a little to make the most of it. As such, since entering university, grit and determination have been his life's guiding principles and this has in the past led a lecturer and a recruiter to describe him as "very aggressive and ambitious." In 3 years he has built a reputation for academic excellence, won 3 coveted awards and he has served in top student leadership positions as a class representative, publicity secretary and senior news editor. In his final year he now concentrates not only on building a great GPA but also on raising his career profile as a digital marketing consultant, professional ghostwriter and book editor, journalist, managing editor of the Lusaka Star, public relations aide and research assistant. He balances up his enthusiasm for career development with humanitarian work as a secretary general of an NGO, and further as a guitarist. He enjoys intellectual discussions around the subjects of love, relationships, media, politics, economics, education, underdevelopment, religion, charity, literature, sports and travelling.
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