Bosa

5) Geographically Disadvantaged
In this case, nothing much can be done. Being placed in a geographically disadvantaged location only calls for innovative ideas to utilize the available resources to advance lives.

A significant number of African countries suffer because they are landlocked- geographically unlucky.

A country like Switzerland is landlocked but it is surrounded by stable economies, creating a platform for trade. On the other hand, most landlocked countries in Africa are surrounded by unstable and conflict-filled countries.most landlocked countries in Africa are surrounded by unstable and conflict-filled countries. These factors injure the economy of the landlocked countries. Uganda, a landlocked country bordered by South Sudan and Democratic Republic of Congo stands as a good example. These neighbors feature civil wars all year.

Although Africa boasts of indigenous and numerous resources, they are poorly distributed among countries and within states/regions in those countries. Despite that, governments have not adopted strategic ways to redistribute such wealth to the citizens.

Wealth distribution is an issue, but what is even more disturbing is how great and promising resources like oil and precious minerals are exploited by foreign investors and big corporations which pay little or no taxes to the countries in which they operate. Such practices have left Africa twirling in poverty.

6) International Aid
In the recent past African leaders have been heard arguing that International Aid has curtailed Africa’s growth efforts. During the recent fourth World Government Summit in Dubai, President Paul Kagame of Rwanda said that donor support should not be relied on forever but instead be used to build institutions and the economy.

“Our vision is to make sure we are able to stand on our own feet and develop our country, attract investment and do business. There is no reason why we can’t grow intra-African Trade to the levels we see in America or Europe. What is good is not necessarily being small but good management of whatever you have, small or big,” he said."There is no reason why we can’t grow intra-African Trade to the levels we see in America or Europe."

Whereas, some non-governmental organizations have helped Africa through support in health, education, governance and in other sectors, some firms have been accused of using stories of desperate Africans to advance their own selfish goals.

The Kibera slum in Kenya is one good example. Kibera, the largest slum in Nairobi and second largest urban slum in Africa is located just 5 kilometers (3.1miles) from the capital, Nairobi. The slum is filled with a sea of NGO’s which have not done so much for residents who continue to scavenge for a living in these tough economic times.

Another outlook into Africa’s failing economy is the loss that Africa is experiencing as the foreign aid-giving countries suck Africa dry of its resources. The outflow costs to Africa surpass the inflowsThe outflow costs to Africa surpass the inflows that get to the continent in form of aid. Health Poverty Action highlights that Africans are losing almost six and a half times what their countries receive in aid each year.

“While $134 billion flows into the continent each year, predominantly in the form of loans, foreign investment and aid; $192 billion is taken out, mainly in profits made by foreign companies, tax dodging and the costs of adapting to climate change. The result is that Africa suffers a net loss of $58 billion a year. As such, the idea that we are aiding Africa is flawed; it is Africa that is aiding the rest of the world,” the report argues.

Africa is also to blame when it comes to misappropriation of aid funds and corruption among the officials.

7) Unfair Trade Policies
Introducing fair trade policies for African countries to trade with nations abroad will grow Africa’s economy much faster than aid would. Unfair trade strategies have rubbished Africa’s growth exertions.

The US, the European Union are protecting key industries that Africa could compete with like agriculture, thus it has become more difficult to trade in this sector.

Poverties Organization argues that instead of the international communities protecting their benefits, they should give preferential market conditions to poor countries for export or agricultural development. This, ‘Poverties’ adds would provide them (African nations) a path to fast development, and hopefully diffuse the benefits to inner regions. This will have a direct effect in the internal market, help it to thrive and alleviate poverty in African countries that are landlocked.

The discourse on poverty in Africa is like a jig-saw puzzle: Africa as a region is rich but her people are poor.

Although Africa is rising, poverty is curtailing the continent’s growth efforts. As a region, Africa needs to address the negligence of sound economic policies. Corruption, selfish personal interests, thirst for power, religious and ethnic differences are clogging the pipeline within which development would have flowed.

Governments, regional communities and private sector should develop effective strategies based on regional needs and partner with like-minded corporations local or foreign to drive Africa’s Development wheel forward.

Africa has the potential to rise above any other continent if only it laid emphasis on shunning corruption, providing basic amenities including water, food, shelter, energy, education and security for all. If we look keenly at what is coming to Africa in terms of aid and what is going out of Africa in terms of profits, tax evasion and debt payments, Africa can be summed as wealthy. In fact, Africa is financing other continents.

Africa is a wealthy continent. Let us all strive to grow the region to live its name, ‘Africa a land of wealth!’.