For so long in the history of the world, Africa has been seen and classified as a developing continent which means that in this era and age of technological advancement Africa is yet to be seen as a continent with the potential of changing the world. It is worthy of note that most of these technological advancement attributed to the western world is pure African ingenuity and her genus scattered all around the world but the great question which deserves an urgent answer is; when will Africa take its place in the world?
This article is an exposition towards the backdrop of our African leaders and some of their unfavourable policies which have kept Africa in serious hunger and poverty.
My article on the need to diversify the economy of Africa using Nigeria as a case study is of the greatest challenges of Africa and her entire region. The dependency on oil and crude related economic pursuit is among the things that have kept Africa where she is today. (Click to read the article.)
In our today, technology has proven to be one of the ways Africa can take herself out of hunger and poverty but the pertinent issue is that her leaders have paid less interest to issues bordering on technological advancement because they are yet to understand the positive effect technology will have on the economy of Africa as a continent. Let us take a look at a scenario where a farmer goes into full-scale mechanised farming
supported by the government and their policies, the harvest will not only increase rather exportation will increase thereby bringing in more money and better investments into Africa which may turn Africa into the world food basket both in season and out of season.
Technology is one of the ways Africa can follow to change her narrative. In the world today, China is known for its manufacturing power. Virtually every domestic and none domestic items are manufactured in China, this has caused a significant growth in China’s GDP and the Asian world at large.
The western world keeps moving with the current trends in every aspect of economic growth and this has kept them way above the poverty and hunger level making them a haven for African migrants
In all of these, Africa is still not looking at things with a clearer view.
In the world economy, the terms cryptocurrency (BTC, BCH, ETH, LTC etc.)
and
Forex trading has become a household term for both the old and the young alike. Students in the western world are thought what crypto and trading are and this keeps them abreast to the happenings of the world in the area of the market. Let us take a look at Africa and issues bordering on cryptocurrency and forex trading.
In this age and time, more than half of the population of Africa is yet to hear these two terminologies making it so hard for mass adoption. The government of Africa is yet to understand that the fiat money is on the verge of fading away and this can be seen in the way and manner the currencies of African countries lose its worth in the global market. No single African country has her currency being traded in the forex market because her leaders are still finding it difficult to make enabling laws and policies that will be able to overturn this deadly move to greater poverty and hunger.
In this 21st century where the world is gradually going into online trading and marketing, Africa still finds it difficult to adopt cryptocurrency as a means of buying and selling. There has been a widely falsified statement on how people get scammed over crypto-related issues and this has become the greatest challenge for both foreign and indigenous investors in Africa because for one to invest in a country there must an enabling policy or policies to protect such investor and his investments.
This is the time for Africa to take the bull by the horn since the world at large is moving with the flow of crypto and forex trading leaving Africa behind which will keep Africa way backwards with an economy that may not be able to cater for her populace alone.
There should be urgent adoption of cryptocurrencies and forex trading as a means of economic growth in the region.
There should be general orientation and education on the workings of crypto and how anyone can gain from it. In other words, people will be made to understand that cryptocurrency and trading are not in any way scam but that does not mean that one cannot be scammed when one gets involved with scammers.
Policies that will support economic advancement must be made to protect an investor against loss of investment and these investors will be made to invest more in technology and not an oil-related investment.
High school students will be made to study and learn everything concerning crypto and forex trading thereby empowering them even as they are young. Remember a community with a progressive youth is as good as dead.
People should be made to accept and use crypto as a means of exchange in various parts of Africa.
Teaching and learning of technological course must be pushed into the school curriculum as a bid to keep the youths in the know when it comes to technology.
Finally, Africa must create a synergy between her and the western world as a bid to fostering better economic and financial growth in all the areas of trade and investment.
When these things are put in place, Africa will take its place in the world economy thereby removing hunger and poverty which has become the greatest challenger of Africa and also reducing the rate of infant mortality and every other vice, hunger and poverty may have brought upon Africa and her surroundings. Africa is the greatest continent in the world blessed with mineral resources, geniuses and manpower which was evident during the slave trade.
Lead image source
The global cryptocurrency awareness and participation is still limited, early entry is the key to profiting generously. To be part of this paradigm shift you need to start today.