The Role of Diaspora

I see the Diaspora as our vanguard for keeping up with the rest of the world (a secret weapon). They are a source of strength asides their remittances which is substantial, rising from 37Billion in 2010 to 96Billion in 2021.

We saw the contributions from the Ethiopian Diaspora that helped to fund the building of the Great Ethiopian Renaissance Dam (GERD). Kenya has also licensed a Diaspora Investment Fund that will enable Kenyans living abroad invest safely at home.

Instead of lamenting the brain drain, Africa should organize itself to take advantage of its Diaspora.

https://twitter.com/ProfOsinbajo/status/1641491245510930434?t=9ZjY03EQIskUNVrP8XnlgA&s=19

On African Continental Free Trade Area.

While some parts of the world were reviewing or quitting regional integration agreements, African countries were building on the pan-African legacy of leaders like Kwame Nkrumah to establish one continental market.

The AfCFTA will overcome the constraints of Africa's small, fragmented markets and its impact on commerce within the continent both in goods and services will be profound.

https://twitter.com/ProfOsinbajo/status/1641488801750036497?t=9GUKSwjLZdOPe-4L4qZQHg&s=19

Africa is a force for good

In previous centuries, most wars were often linked to disagreements on boundaries. In 1963, African countries were barely out of colonial rule yet they agreed to respect colonially inherited boundaries.

Africa has shown good example in using regional integration arrangements to promote peace and security on one hand and trade and industry on the other hand.

The African Union and ECOWAS are great examples. ECOWAS sanctioned countries like Burkina Faso, Guinea and Mali when they seized power by coup d'etat. The Africa Union backed these actions.

https://twitter.com/ProfOsinbajo/status/1641487102666743808?t=pSjEJSQR6g3h4bUkguvg5g&s=19

The Question of Insecurity.

There is some restiveness on the continent which is driven in part by poverty, alienation, environmental degradation and poor governance. The more pressing problem today is the encroachment by franchises of global terror groups in Africa.

Although many African countries have acted vigorously to tackle those terrorist groups but there is so much more that can be done.

The Sahel appears to be the worst hit. According to the 2022 Global Terrorism Index, the Sahel has become home to the most deadly terrorist groups.

The Index reports that Sub Saharan Aftica accounts for 48% of global terrorism deaths. The Sahel is also said to account for 500k internally displaced persons, 1.8million people facing food insecurity and 5.1 million people needing humanitarian assistance.

Given the scale of the problem, I think it is time for the global community to treat the menace of terrorism in the Sahel as a common challenge.

Great powers and emerging powers can set aside rivalries and work with ECOWAS and the African Union to stamp out terrorism in Africa.

https://twitter.com/ProfOsinbajo/status/1641364584681426945?t=HeHjbqG6JlCEwCqI618t7g&s=19

China Investment in Africa
In Mid-December, the US hosted the Africa-US summit, the last one was held in 2014. It appears the summit was meant to at least register the US's interest in being a more active player in Africa.

Most African countries are rightly unapologetic about their close ties to China.

China shows up where and when the West will not and or are reluctant.

Africa needs the loans and infrastructure. The memory of the destructive conditionalities of the Brenton Woods loans are still fresh and the debris is everywhere.

https://twitter.com/ProfOsinbajo/status/1641357842941722624?t=BU5tgsENLsCvSaQ5P8GEZA&s=19

On #ClimateAction.

Africa can lead a revolutionary approach to climate change. One that recognizes Climate Action as the job engine for Africa. James Mwangi and his colleagues at Climate Action Platform Africa have presented this compelling point of view.

They argue that instead of pushing the narrative of Africa as a victim and or insisting on business-as-usual growth which would make Africa a big future emitter.

Africa should instead take the lead in tackling climate change leveraging on its renewable energy potential, young workforce, green technologies, carbon removal and green manufacturing.

In other words, Africa can provide jobs for millions of its young people, prosper and lead in the fight against climate change by becoming the green or carbon free civilization.
And we have the comparative advantage to do so.

https://twitter.com/ProfOsinbajo/status/1641349765140033536?t=xfwUL2jtpACe5CLqNgDAcg&s=19

The Effect of the Russia-Ukraine War on African Countries


Africa can take full advantage of the global complexities we see today and thrive in the face of uncertainties and disruption.

The lines have never been more blurred in the various conceptual prisms through which we view the world.

Since the unipolar world of the 1990s, several centres of political and economic powers have emerged.

In addition to the United States, we now have China, Russia, the European Union, the United Kingdom, India and Brazil as dominant regional powers.

When we consider the on-going Russia-Ukraine war, asides from the consequences for international peace, African countries now have to steer their way delicately between major powers.

These price shocks and disruption of supply chains of various commodities across Africa led to high inflation at a time when most countries were struggling to overcome the economic and social fallout of the COVID-19 pandemic especially debt and foreign currency crises.

We are now in the process of working out a grain supply from Russia coordinated by the World Food Programme, and we recently accepted to provide a port space in Port-Harcourt, Nigeria for the distribution of grain from Ukraine to other West African countries.

The Economic fallout of the war should be an introspective moment on self-sufficiency in food.

Zimbabwe for example, through proactive measures shows us that African countries can turn this crisis into opportunity.

https://twitter.com/ProfOsinbajo/status/1641345775593504769?t=VbIUl04oSa_UumWG7d4COA&s=19

Osinbajo In London was a success story.