The slogan “Africa Rising” has become the drum beat of many
African optimist and political opportunist. The rapid growth pace of Africa’s
GDP has been touted as a success and hope for a new Africa but what pundits
fail to observe is where is this growth coming from and at what price to the
ordinary African? This brings me to the new found Sino-African relationship.
Many analysts are of the view that this new economic nuptial is a good
partnership with Africa and I sarcastically opined; at what price? In life, we
don’t get what we deserve but we get what we negotiate for. China like the
Europeans before them are only interested in African raw materials to fuel the
surge of industrialization taking place in mainland China. Therefore it remains
to be an extractionary policy whereby raw materials are extracted out of the
continent and brought back as transformed goods to be sold to Africans whose insatiable appetite for Chinese products are inexhaustible.
Chinese companies under the banner of the People’s Republic
have been signing contracts with African governments to extract natural
endowment without recourse to the environment, fiduciary diligence or human
rights record. Well as purchasers of African resources, they are not obliged
legally to be the moral police for the citizens of Africa whose leaders have often railroaded them as it relates to the public interest in selling off our collective endowments. Our leadership have
once again failed us in the dispensation of its duties as it relates to being
the custodians of our collective wealth. Natural raw materials are
depletable assets therefore proceeds derived from the sale of such assets
should be spent on long term fixed assets so that future generations of Africans
can benefit from the resources extracted on their behalf. The lesson learned
from the Chinese invasion of Africa is that the Africans still have weak
institutions and strong leadership and the collective interest of society is
yet to be protected. Therefore China’s presence in Africa has done little to
change the economic fortunes of the ordinary African citizen or better yet it has transformed the ordinary African
citizen into consumption junkies whose appetite for consumer goods such as
cell phones, tablets and flat screens are leaving the continent with a current
account deficit which encourages capital out flow as import surges over
exports.