8/2/2019 Africas Golden Age
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P.O. Box 9
Bakersfield, California 93
www.icmusa
661-832-9
You have heard it said, what got you here will not get you
there! Africa must adjust to its coming golden
era. Africa is in the midst of the greatest transformation the
world has ever seen. Just ten years ago,
December 2001, the Economist magazine came out with the cover
story, Africa: The Hopeless Continent.
But that was then and now is now! In December 2011 this is what
they said in their lead story, Since The
Economist regrettably labeled Africa the hopeless continent a
decade ago, a profound change has taken
hold. Labor productivity has been rising. It is now growing by,
on average, 2.7% a year. Trade between Africa
and the rest of the world has increased by 200% since 2000.
Inflation dropped from 22% in the 1990s to 8% in
the past decade. Foreign debts declined by a quarter, budget
deficits by two-thirds. In eight of the past ten
years, according to the World Bank, sub-Saharan growth has been
faster than East Asias (December 1,
2011). Africa is rising!
Modern African leadership has evolved in four major stages.
1. Colonial RuleThis period was the forced introduction of the
Western institutions, including Christianity,
to the continent, mainly the sub-Sahara continent. Foreign
powers came with their modern armies and vast
bureaucracies and patiently began the redistribution of power to
fit their needs for control. The same Western
powers also proceeded to take out of Africa some of its vast
wealth. In exchange it left behind the building
blocks for a modern continent.
2. National RuleHalf way through the 20th century African
leaders began the process of reclaiming their
rightful place of leadership, country by country. This
eventually lead to the expulsion of the colonial powers,
sometimes peaceably, sometimes not. The result was a very trying
time where traditional African leaders
tried to lead modern states based on their own models.
Tribalism, demagoguery, and nepotism were the
accepted practice of the day. Wealth flowed not from business
but from government power.
3. Transition RuleAfrica is in the midst of a major shift from
the first generational rulers, whether church
or state, to a new ruler who seeks to bind the different ethnic
groups together into a strong nation that can
build a future for all of its people. Faced with ethnic and
religious differences and jealousies, leaders
understand that the future will be better only when groups work
together for the common good.
4. Business RuleWhile capitalism has many problems, it is so far
the best model for building and
distributing wealth to a broader segment of society. It is not
right or wrong, it is a tool. The fourth phase in
Africa is the rise of the entrepreneurial business leader. From
village kiosk to hotel magnet, a new breed of
leader is rapidly moving up the food chain to push Africa to a
new level of prosperity. There is wealth in
Africa that remains undiscovered and untapped. It is by far the
wealthiest continent in the world when it
comes to natural resources. The key for these leaders are
twofold: 1) will there be stability in their countries
and 2) will they be able to lead a modern movement of workers
into the greatest era of prosperity that Africa
and perhaps the world, has ever seen?
Phillip R. Walker, PhD
President, ICM
Africas Golden Age
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