This is an essay answering the question : “If you were a leader in Africa, which single change would you aim to bring about, and why? How would you do it?”
This is somewhat a draft but it's one of the incomplete ones because it's supposed to be two pages. I hope you enjoy. Feel free to comment.
This is an essay answering the question : “If you were a leader in Africa, which single change would you aim to bring about, and why? How would you do it?”
This is somewhat a draft but it's one of the incomplete ones because it's supposed to be two pages. I hope you enjoy. Feel free to comment.
This is an essay answering the question : “If you were a leader in Africa, which single change would you aim to bring about, and why? How would you do it?”
This is somewhat a draft but it's one of the incomplete ones because it's supposed to be two pages. I hope you enjoy. Feel free to comment.
REACHING AFRICA'S POTENTIAL OF ECONOMIC DEVELOPMENT THROUGH ITS
ENERGY AND MINING INDUSTRY
Africa - the world's second largest continent with vast resources and labour but yet so poor. Youth make up to 63% of the African population with a labour force so efficient that the continent could be as developed and part of The Great Four. Obstacles, however, exist such as poverty, illiteracy, hunger, famine, war and climate change, but most of all - corruption. Africa has hundreds of mines of Gold, Iron, Tanzanite, Diamonds and many more along with energy mines such as coal and natural gas among others. The question comes to where all the revenues go from the African mineral and energy industry. If I were a leader of Africa, the one change I would bring about is reaching Africa's potential of economic development through its energy and mining industry.
The mining and energy sector in Africa is one of the major sources of revenue for most , if not all, African countries (apart from trade). However, due to corruption, most of this financial revenue leaks out to personal gain or to the private sector. In some cases, tax evasion exists or even falsification in a firm's monetary data that restricts the government to collect the real revenue used to invest on its economy and achieve its microeconomic objective of Economic Growth. One way of stopping this is through stricter laws on corruption, tax evasion and monetary data falsification, illegal trade and of course, nationalization and international cooperation.
Corruption - linked with bribery and moral perversion - is common not only in the African continent but all over the globe. NGO's , officials, businessmen and a few leaders working in the energy and mineral industry are prisoners to the power of corruption through their own actions or through other people's actions towards it. Laws exist against such actions but they are not strong enough to withstand it. As a leader, setting stricter laws with stricter consequences such as longer imprisonment and more involvement of the National Secret Service would be the actions against corruption - currently the economical and political disease restricting economic development.
Tax evasion - defined as the non-payment of taxes, as through the failure to report taxable income - is another factor depriving of African economic development. Dishonesty or falsification of the monetary datum incurred through the mining and energy industry is one of the greatest barriers of revenue to the government. Just as Lough Erne's talks on tax evasion in the G8 meeting , leaders all over Africa are to embrace action to restricting tax evasion in the energy and mining industry, among other sectors.
Illegal Trade also incorporates itself with tax evasion and monetary data falsification. It involves revenues not reaching the government, and hence limiting economic development through the action of trading energy and minerals illegally to avoid the payment of taxes to increase personal profits. As a leader, national trade and boarder security is to be enhanced more critically to tackle this.
Nationalization, defined as the bringing of land or industry under the control of a nation would be another proceeding set up to action as a leader. Private firms practicing corruption, tax evasion, illegal trade or data falsification, among others, will be nationalized and controlled by the government owning the land used. This is another legal litigation or judicial proceeding to be done as a punishment (or even voluntary action) seen through to encourage or increase economic development in African countries. Contracts and declarations will be set up for all companies or nations of the African economy to sign and abide to the laws of the land that they invest on.
Elizabeth Kitange
A true leader believes in cooperation with other leaders. Growing strong bonds and communication with leading states such as Russia, Europe, the USA and China, among others, would greatly benefit the African continent. Signing contracts of energy trade will strengthen and improve the African economy and build international cooperation and of course, enact peace. Taking in example the MEDC's leading in cooperation like Russia and China who recently signed contracts of the trade of natural gas, African resources that are of such vast range would bring a lot of development if utilized with maximum international security and cooperation.
Social entrepreneurship and education is one of the actions, as a leader, to increase the rate of employment and thus, increasing labour in the energy and mining industry, among other sectors. Education is a human right that is recognised in the United Nations Millennium Goals, hence, its importance in reaching African development is essential as the GDP of African countries would increase at a vast rate, in the short and eventual, long run.
In conclusion, as a leader, reaching Africa's potential to economic and sustainable development through its mineral and energy industry, is a single change that I aim to bring about. The increase in government revenue through fighting illegal trade, tax evasion and monetary falsification, nationalization, increase in social entrepreneurship and education, and most importantly, fighting corruption and increase international cooperation would be the actions to develop Africa. This would not only increase government expenditure to the public but will also alter a decrease in hunger, poverty, unemployment and infant mortality in the African continent due to the improved standards of living.