Africa might actually need to just industrialise key industries that they
control.
A little history lesson
The country I reside in, Finland industrialised due to the production of wood and paper. More then 100 years ago people lived in huts here.
What happened, was that other europeans came and with some finns made plants based on wood and other resources easily available in the country. The foreigners essentially kickstarted the industrialisation by bringing in the needed knowledge and capital.
The excess capital they got was invested on other ventures, mainly on other types of plants, for example textile plants.
The owners of the plants then invested in their neighbourhood by building schools and hospital to keep their workers happy.
From exporting resources the finns started to export finished goods after gaining enough capital.
Africa needs to industrialise so they can progress.
I will give you guys an example
Ghana is the 2nd largest producer of cocoa in the world. Cocoa is more then 100 billion dollar industry in which Ghana sees fraction of the profits.
Ghanas president has announced they will build plants to export the finished cocoa products, significantly gaining more profits and control over the industry.
If Ghana succeds in gaining control of the production, it will kickstart its industrialisation.
Ghanas diaspora could potentially do this. They have a big diaspora and just by investing in to few plants would create a domino effect.
control.
A little history lesson
The country I reside in, Finland industrialised due to the production of wood and paper. More then 100 years ago people lived in huts here.
What happened, was that other europeans came and with some finns made plants based on wood and other resources easily available in the country. The foreigners essentially kickstarted the industrialisation by bringing in the needed knowledge and capital.
The excess capital they got was invested on other ventures, mainly on other types of plants, for example textile plants.
The owners of the plants then invested in their neighbourhood by building schools and hospital to keep their workers happy.
From exporting resources the finns started to export finished goods after gaining enough capital.
Africa needs to industrialise so they can progress.
I will give you guys an example
Ghana is the 2nd largest producer of cocoa in the world. Cocoa is more then 100 billion dollar industry in which Ghana sees fraction of the profits.
Ghanas president has announced they will build plants to export the finished cocoa products, significantly gaining more profits and control over the industry.
If Ghana succeds in gaining control of the production, it will kickstart its industrialisation.
Ghanas diaspora could potentially do this. They have a big diaspora and just by investing in to few plants would create a domino effect.