sharing in governance of extractive industries
Collaboration among African countries a must in the development of foundation infrastructures for jobs and economic growth on the Continent.
Author: Dr. Antipas Massawefirstname.lastname@example.org
Despite of the huge revenues governments on the African continent are earning from the continuing development and exploitation of nonrenewable natural resources like minerals , economic growth is still very slow and joblessness escalating on the continent. The individual going African governments are on in the development of their economic growth potentials does not allow mobilizing enough from the revenues individuals are earning from the ongoing development and exploitation of their nonrenewable natural resources for investing as the seed capital required to enable optimal development of the foundation economic infrastructures enabling stimulation of investments for economic growth where most in need on the continent.
Collaboration among African governments is the only way this could be achieved from the revenues individual governments earn for investing as the multinational African seed capital required to enable optimal development of foundation economic infrastructures like hydro, coal, natural gas and nuclear based power generation and transmission; interconnected railway networks, airports, water dams; and fresh water, oil and natural gas pipelines. These are required for the stimulation investments in the economic growth potentials Africa is gifted in its population of more than one billion, favourable climate throughout the year, agriculture, fisheries, forestry, manufacturing and in continental, as well as global trading to speed up economic growth and reduce joblessness on the continent.
Even though many governments on the African continent are already very well aware of the need to use the revenues they earn from the development and exploitation of nonrenewable natural resources in the development of the foundation economic infrastructures required to stimulate investments in their economic growth potentials, the development and exploitation of nonrenewable natural resources contimuing on the continent for many years now has failed to contribute much of expectations.
Failed because African countries are yet to realize the importance of African collaboration in the mobilization of the revenues individual governments earn from the exploitation of nonrenewable natural resources like minerals for investing as the multinational African seed capital required to enable optimal development of the huge and costly foundation economic infrastructures needed to stimulate investments in the economic growth potentials the continent is gifted as a whole.
Multinational collaboration is what enabled the tiny countries of European Union (EU) to mobilize enough of the huge seed capital they invested in the development of the foundation economic infrastructures of scale in all sectors of modern economy in all countries of EU, enabling EU to become one of the most attractive for investments and prosperous worldwide. They realized and picked on the right course so quickly because history gave them the harsh cold winters to grow in and without any opportunity to beg from others or live on their produce.
Like the EU, the African continent is also fragmented into small (and therefore unable to achieve by going individually) countries which are yet to realize the importance of collaboration in their mobilization of the seed capital required for the optimal development of the foundation economic infrastructures forstimulation of investments on the continent by emulating the footsteps of countries in the EU.
As a consequence, it is not much of the huge wealth foreign multinationals are creating in their development and exploitation of nonrenewable natural resources on the continent is been invested back in the development of economic growth potentials in sectors other than the development and exploitation of nonrenewable natural resources like minerals on the continent.
The individual going practiced by countries on the African continent in the development of their foundation economic infrastructures is not delivering optimal expectation because efforts are not well intergrated and focused on the common goals required to ensure mobilization of enough and its investing in the development a well inteconnected and interdependent network of the infrastuctures required to enable attractiveness of the continent for its deserved share of global investing in the development of its economic growth potentials.
Collaboration among African countries in the development its foundation infrastuctures for the stimulation of investing in its economic growth potentials should consider as follows:
Estimates of the potentials of nonrenewable mineral resources and the revenues contributed to the governments by their ongoing and would be future development and exploitation in all countries on the continent (one); Estimates of the already developed and yet to be developed economic growth potentials existing in all countries on the continent and their costs and benefits (two); Foundation economic infrastructures required to enable development of the economic growth potentials existing in all countries on the continent (already developed and yet to be developed), and their costs. (three); Designing of the continental master plan/layout of the continental foundation economic infrastructures required for optimal stimulation of investments in all countries on the African continent and the African continent as a whole and costs per element, based on one, two and three above (four).
Developed master plan (four) should be made available to all countries on the African continent to enable them to consider when designing their detailed national economic infrastructures to ensure best fit on the continental master plan and mutual benefit for all who are sharing the continental foundation economic infrastructures. For example, development of the continental railway system on the continental master plan of foundation economic infrastructures should focus on ensuring uniformity of technical specifications and connectivity among neighbouring national and/or regional sections of the continental railway system in order to enable maximization in the utilization and sharing of idle railway sections, locomotives and wagons among countries and regions on the continent.
Also, developed master plan (four) should be basis in the creation of specialized multinational African companies responsible for the mobilization of the seed capitals required in the development and operation of different economic foundation infrastructures featuring on the continental master plan. For example, a multinational African company could be established to specialize in the mobilization of the African multinational seed capital required to finance development of African nuclear power plant(s) or the Inga hydropower generation potential in the Democratic republic of Congo which feature on the continental master plan. Individual countries or group of several neighbouring countries on the African continent could handle mobilization of the seed capitals required and development of small foundation economic infrastructures whose implementation is not so costly.
Collaboration among African countries in the mobilization of seed capital for the development of foundation economic infrastructures could also include mobilization for investing in private sector lead strategic industries such as the Indian and Atlantic Oceans born large scale fishing and processing and the natural gas based fertilizers manufacturing which have major impact on downstream jobs creation and economic growth in several sectors of the continental economy.
Add a Comment