Pan Africanism : Africa Open For Business!

Discussion in 'Black History - Culture - Panafricanism' started by Destee, Jun 7, 2005.

  1. Destee

    Destee destee.com STAFF

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  2. panafrica

    panafrica Well-Known Member MEMBER

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    I've been writing about/talking about investing in Africa for years. The only thing that would make me hesitant about this particular project is clearly there is non-black (White & Asian) involvement. Both people have been exploitive in the continent. However, there is a clear difference in exploiting & investing. Africa desperately needs black investors...people to bring financing & news ideas to the continent. Africa is currently suffering from a "brain drain". Some of the most brilliant engineers, architects, doctors, and lawyers in the world are African. However, the overwhelming majority do not live in Africa. Europeans are only interested in extracting Africa's rich mineral resources (Oil, Gas, Diamonds, Gold, Rubber, etc) and in maintaining specialty plantations like Cocoa. Europeans only maintain the amount of infastructure (roads, bridges, utilites, etc) necessary for them to extract the resources they want. They are not interested in the "quality of life" of Africans. This disinterest creates a gap that desperately needs to be filled. There is no reason why other black people (African Americans in particular) can not fill this gap.

    Investing in Africa isn't charity, it is an unprecidented business opportunity. Many skills which African Americans possess...many of the resources we have are needed in Africa. African Americans have skills in construction, auto repair, carpentry, computer technology, education, farming, engineering, medical care, and food services Indeed, African Americans are well known in these types of industries. We often do this work for white owned companies at minimum wage or barely above it. Or we open our own companies and struggle to stay in business because competition is too strong in America. In the US there are very few needs which aren't being met. As I previously stated, this is not the case in Africa: Africa needs people to build local roads...farms...plumbing...retail stores...electricians...houses...auto mechanics. Africa needs grocery stores...restaurants...clothing ...pharmacys...contraceptives...hotels...auto mechanics Africans needs hospital equipment...farming equipment...doctors...nurses...teachers...waste disposal specialist. Again many of the areas Africa needs, African Americans already specialize in. Instead of doing these services for minimum wage in America or opening your own business and struggling to stay alive, because there are 20 similar business in a 3 mile radius. Why not open that same business or perform that same service in Africa and become an innovator (be the only person in town or the entire country with that business)?

    Would/should a black person (be they African American, Afro Caribbean, or Afro European) come to Africa and perform these services for free? Or course not! No one lives off of providing charity. Of course you would charge for these services. However, if one opened up a grocery store in Africa...provided people with food, medicine, clean water, at affordable prices....if they imported desired goods. That person would be helping Africans while simultaneously making a profit. Why should blacks in the Diaspora look at investing in Africa in any other way? Now it does take money to invest in Africa, although this shouldn't be surprising because it takes money to invest in anything, anywhere (I currently am working to save money for such investments). It is also necessary to do much research. Not only would a person have to look at what a particular country/area needs, they would also have to learn about local laws & regulations. They would have to consider the political climate of a country, culture, language, etc. Still the opportunity is there...the gap is there...eventually someone will fill it. The people who do will become wealthy.
     
  3. pdiane

    pdiane Well-Known Member MEMBER

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    Now that is for sure, Pan. I am doing some fact finding as we speak in Senegal. Trying to find the best business for me, when I move there next year. I looked at Cyber Cafes. They are pretty lucrative, although you have to find a good location. I guess the most important issue here is trust. As we are aware, sometimes poverty breeds crime and it is important that we hook into people from the country and outside of the country to build strong trusting relationships before we start a business.

    My Nigerian friend told me she has several Nigerian friends who are very successfuli amerikkka. They take their money and open business in Nigeria. Unfortunatley, she says 2 years later her friends are back in amerikkka because of corruption in Nigeria is very prevalant.

    We therefore most be careful and realistic before we do business, anywhere particularly in Africa. I guess the key is you have to be there, and you have to have trusting family members and friends that your are involved with you and your business.

    Doing the proper research is an absolute must as well. There is an African Business Summit in Baltimore happening this month. Although I cannot attend, I am hoping someone can and let us know what it entails.

    Thank you Pan for this post.
     
  4. panafrica

    panafrica Well-Known Member MEMBER

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    Thank you for your response sister Pdiane. Can you give me more details about the African Business Summit in Baltimore? I have family in Maryland, and am only a 2 1/2 hour drive away. I would very much like to attend.
     
  5. karmashines

    karmashines Banned MEMBER

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    Interesting points.
     
  6. pdiane

    pdiane Well-Known Member MEMBER

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    http://www.africacncl.org/(gfglfsjfyjdowzz31ycu5z45)/CCA_summits/2005_summit.asp

    Per your request PanAfrica. I will be taking place in Baltimore next week. Hopefully you can go, and let us know what it entailed. Also, I am interested in the key players. Thank you. Peace and Love.
     
  7. Ellacott

    Ellacott Active Member MEMBER

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    This is a very timely topic for me. I went to a networking conference last week and I spoke to a person that mentioned the conference that will be held in Baltimore.

    I have been doing research into starting textile manufacturing operations in Africa and the Caribbean. It's always bothered me to read labels that say Made in China or Mexico. Apple Bottoms, Baby Phat and other AA clothing lines are manufactured in China. These companies could pool their resources and establish manufacturing operations throughout the diaspora.
     
  8. panafrica

    panafrica Well-Known Member MEMBER

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    I wish you much success in your ventures Ellacott.
     
  9. panafrica

    panafrica Well-Known Member MEMBER

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    Thank you for the information sister Pdiane, I'll try my best to attend, and keep you informed.
     
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