Africans stand to benefit from reinventing their economic philosophy to better align it with the development needs that the continent faces.
Africapitalism is an economic principle that embodies the private and public sector’s commitment to the economic transformation of Africa through investments that generate socio-economic sustainability.
Somachi Chris-Asoluka said the notion of Africapitalism has the potential to curb the exploitation of African markets by multinational firms.
Africapitalism is telling a new narrative where investments can have a human feel and lead to economic wealth and social prosperity.— Somachi Chris-Asoluka, Analyst at the Africapitalism Institute
Listen to the full conversation from The Redi Tlhabi Show:
Chris-Asoluka said the characteristics of Africapitalism include entrepreneurship, inclusive growth and regional integration and have the ability to enhance the creation of local value and accelerated prosperity throughout Africa.
Through her work with the Tony Elumelu Foundation (named after the Nigerian banker and entrepreneur who coined the Africapitalism term), has vast experience with the practical applications of Africapitalism.
@RediTlhabi Africa has been begging the West 4 more than 300yrs instead of working silently & dictate trade terms based on our rich minerals— SydneyG (@MannaTitbits) November 9, 2015
@RediTlhabi With true Capitalism I milk you till you drop.Whilst you lie on the floor I workout how much can I sell your blood for.Afro what— KABELO MG (@KabeloMG) November 9, 2015
This article first appeared on 702 : How rethinking Africa's economic philosophy can boost the continent