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Dear Black Founders
Africa is the future. Six out of ten of the world’s fastest-growing economies, markets in the process of diversifying from their commodity-driven past, are on the continent of Africa.
With a current population of around 1.2 billion that’s projected to reach 1.7 billion by 2030, talent is abundant. Home to some of the fastest-growing consumer markets in the world where household consumption is predicted to reach $2.5 trillion by 2030, demand is experiencing exponential growth.
A past marked by colonialism and exploitation, African nations are hoping for a brighter, more prosperous future. What many leaders believe requires fostering new relationships. Recently, eight West African countries traded in their French-backed regional currency CFA franc, for a new one, “Eco.” To loosen the grip of French politicians on their financial system.
Simultaneously, many other African nations and their people are becoming skeptical about Chinese capital. Since 2000, Beijing has advanced loans worth $143 billion to African countries, loans many are having difficulty paying back, which could give Beijing control of some country’s most important infrastructure. Nonetheless, many nations are hoping for new, mutually beneficial partners.
Surprisingly, some leaders are turning to the diaspora. People who left their respective countries over the past few…