ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

Africa; What The Future Holds For Continent Africa Economically

Updated on September 14, 2015

Why Africa lagged behind the other continents in terms of economic development

Africa has for long period lagged behind other continents in terms of Industrial development. This is due to the presence of several underlying factors which has hindered this continent of plenty resources from achieving its full potential. The slave trade in the 18th Century is a major factor. The traders robbed the continent the best it had at that moment. The 19th century colonization was no better. There was massive exploitation of mineral resources for no gain. Long eras of poor leadership followed colonization. Dictatorship perpetuated the state of massive resources exploitation for the benefit of the few.


A map showing the continent of Africa

Economic map of Africa
Economic map of Africa | Source

The Emerging Young Innovators In Africa

Zubair, a young African innovator,Nigeria.Developed constitution app
Zubair, a young African innovator,Nigeria.Developed constitution app | Source

Emergence of young innovators

In this 21st century, there seems to be the light after those long dark ages. The emergence of a young innovative generation means at the long last, Africa can now come up with the solutions to the problems the continent has been facing for centuries. I was keenly following the Global entrepreneurship Summit in Nairobi. It was all about the options and new ways of solving the recurring challenges of drought and famine, pest and diseases, Major breakthroughs in the sectors of energy and medicine. They are the recipes of development.
Kenya for example has been a global leader in mobile money transfer platform. It means that the young generation is ready to come up with the alternatives, better ways of hitting the set targets.

A mobile money transfer platform in Kenya

A quick and convenient money transfer method
A quick and convenient money transfer method | Source

Quality education

The rise in number of the educated young population has attracted the major global investors who are looking for better investment returns. The labour is readily available and also a population eager to adopt their products.

Vast mineral resources

The discovery of energy resources like natural gas and petroleum oil especially in the East Africa region will lead to low production cost hence better investment returns.They are recipes for industrial revolution.

Infrastructural development

Massive infrastructural development has been a major factor in attracting foreign investors
Good governance policies has eliminated the bureaucracies in business registration .
The cost of doing businesses in the already developed economies has been on the rise. High labor costs, competition among others make Africa the better option.
This 21st Century belong to Africa. It is a moment of scramble for investment return from Africa.

Roads and rail network in South Africa

Source

Comments

    0 of 8192 characters used
    Post Comment

    • MartieCoetser profile image

      Martie Coetser 

      2 years ago from South Africa

      Good governance policies in South Africa are yet to be practised, as the corrupt ANC government has no clue what a democracy is. They practise autocracy as far as they can. We can but only hope that the opposition parties prevent them from ruining the country completely. Because of corrupt politicians, and unions with no idea what the economy of a country entails. and uncontrollable criminals, SA is going down the drain at the speed of daylight. 21 Years after the demolishing of Apartheid, surely good leadership would have gotten the country on a much higher level of civilization as it is today. Take Singapore as an example. Down here in South Africa the poor and struggling masses are still compelled to burn expensive assets - like people of the 17th century - in order to get the government's serious attention. What level of civilization is this?

      The picture you have in this hub of roads and rail network in South Africa is misleading. Although the corrupt ANC applies most of its revenue to salaries for mainly incompetent and ineffective leaders and managers, and even more to fraud, neglecting maintenance on the existing modern infrastructure all the way, the majority of our main roads and rail network are just as good as those in the USA.

      Thanks for this positive hub about Africa. Really, it is high time for Africans to rise above all the adversities of the past. Keep in mind that Europeans were oppressed by its aristocracy for ages and that it took many revolutions as well as two world wars for them to eventually show the progress they currently display. We can but only hope that the present infiltration of foreigners will not have any negative effects.

    • pramodgokhale profile image

      pramodgokhale 

      2 years ago from Pune( India)

      Sir,

      Africa has future economically but third world nations should cooperate by heart and India and Africa could build economies .

      this month end India-Africa summit would take place in Delhi for economic cooperation , so expecting more such activities.

    working

    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: https://hubpages.com/privacy-policy#gdpr

    Show Details
    Necessary
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy)
    Features
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Marketing
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Statistics
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)