Navigating Deglobalization: Can Africa Seize the Opportunity?

The buzz around deglobalization isn’t new, but the implications for Africa are taking center stage. Professor Benedict Okey Oramah’s recent address, as reported by Arise News, urges African leaders to confront this shift head-on. His message? Courage, innovation, and a proactive stance are crucial to ensuring deglobalization doesn’t derail Africa’s development trajectory.

Oramah’s point about the world seemingly abandoning globalization just as Africa’s “development train” arrives is particularly sharp. It raises a critical question: why the sudden change of heart? Is it a genuine re-evaluation of global interconnectedness, or something more self-serving from established powers?

Yet, simply lamenting this shift won’t suffice. Oramah correctly emphasizes the need for African leaders to view deglobalization not as a roadblock, but as a potential springboard. This demands a shift in mindset, moving away from reliance on external forces and embracing self-determination.

What does this “courage and innovation” actually look like? Oramah calls for sacrificing privilege, overcoming fear, and embracing “the audacity to vision and act.” Sounds good, but how do you translate that into concrete policy? It starts with taking ownership of Africa’s destiny. Avoiding a victim mentality is a start. Turning problems into possibilities is an important aspect of leadership.

Consider the African Continental Free Trade Area (AfCFTA). Oramah points out the decades of delay in implementing intra-African trade agreements, branding it a “leadership denied” that cost the continent dearly. Now that AfCFTA is a reality, there’s renewed hope that Africa’s trade-driven transformation is indeed underway, regardless of broader globalization trends. The success of AfCFTA is therefore paramount.

Former Lagos State Governor Babatunde Fashola reinforces this, arguing that Africans’ own mindset might be the biggest obstacle to internal trade. He emphasizes the importance of trade and diplomacy as tools for development, particularly in an era of rising tariffs. Fashola’s call to protect opportunities for improved trade and development is spot on, but it hinges on maintaining law and order – a persistent challenge across many African nations. Investment goes where it feels safe.

Incoming NBCC President Abimbola Olashore’s perspective is equally relevant. He acknowledges global economic shifts and domestic challenges, yet expresses confidence in the NBCC’s ability to drive meaningful impact by strengthening Nigeria-UK trade relations.

So, where do we go from here? While the AfCFTA is promising, significant hurdles remain. Infrastructure gaps, bureaucratic inefficiencies, and political instability still hamper intra-African trade. Successfully navigating deglobalization requires more than just visionary leadership; it demands pragmatic solutions to these persistent problems.

One thing is clear from my own experience: African nations must diversify their economies. Over-reliance on commodity exports makes them vulnerable to global price fluctuations and external shocks. Investing in value-added industries, promoting entrepreneurship, and fostering innovation are essential for building resilient economies.

The key to that is education. Creating a workforce prepared for the demands of a rapidly changing global landscape is vital. This includes not just technical skills, but also critical thinking, problem-solving, and adaptability.

Still, none of this is easy. Deglobalization presents a complex set of challenges, and there are no easy answers. African leaders need to engage in open and honest dialogues with each other, with the private sector, and with civil society to develop effective strategies. A collaborative approach is essential.

It’s worth noting that deglobalization isn’t necessarily a complete reversal of globalization. Rather, it signifies a shift towards regionalization and a re-evaluation of global supply chains. African nations can leverage this trend by strengthening regional partnerships and focusing on building competitive advantages within specific sectors.

This challenge is not insurmountable. With visionary leadership, strategic investments, and a unwavering commitment to self-determination, Africa can not only weather the storm of deglobalization, but also emerge stronger and more prosperous. The time for bold action is now.

In any case, the narrative around deglobalization in Africa should focus less on fear and more on opportunity. A chance to reshape its economic future, on its own terms.

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