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Former President of the Federal Republic of Nigeria Olusegun Obasanjo expounded his understanding of the Chinese dream and its implication for Africa
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VOL.3 December 2011
A Continent in Transition

Africa has survived a year of great change. Most notable has been the transition affecting North Africa, where waves of protests resulted in regime changes in Libya, Tunisia, and Egypt. When the dust had settled, Libya's former leader Muammar Gaddafi lay dead in a storm water drain and Egypt's former leader Hosni Mubarrak lay frail and fearful on a bed in a courtroom, on trial for his life.

The frustration at the status quo in North Africa, most notably from the youth, who in the main are well educated but lack jobs, boiled over and captured not only Africa's but the world's imagination. In their own way, the current "Occupy" cities protests going on globally had their roots in the changes in Africa.

Undone by decades of corruption, rising food prices and bruising economic hardship, leaders who had always considered themselves to be sacrosanct met a rude awakening. Libya, Egypt and Tunisia now all begin a process of new leadership. Changes are being made and the people who have effected those changes are demanding accountability. No matter who is in power in these countries the same issues will need to be addressed. Structural changes in economic and social policies are vital to improve the standard of living of all citizens and not just lining the pockets of an elite few. New leaders in these countries now know they will meet the same fate as their predecessors if they don't deliver on their promises – incentive enough to make things right.

An air of optimism hangs in the African air as politically the continent's 16 presidential elections held during 2011 (ESIA calendar) and the North African regime changes augers well for Africa's democratic development.

That optimism has also filtered through to the outlook for Africa's economy. The International Monetary Fund (IMF) reported in October that 2011 looks set to be another encouraging one for Sub-Saharan African economies. The IMF report said the region's economy is set to expand by 5.25 percent in 2011, saying their growth projection for 2012 is 5.75 percent owing to one-off boosts to production in a number of countries.

But despite this rosy projection challenges do lie ahead. The IMF says 2011 is a year of two contrasting storylines in the region as on the one hand, growth is as strong and broad as it has been for many years for many African countries. On the other hand, global and domestic developments in 2011 have exposed the fragile nature of economic conditions in Sub-Saharan Africa. The spike in global food and fuel prices is causing disruption across the region, particularly among the urban poor. This is exacerbated by famine in East Africa, and the displacement of close to a million people from Somalia into Ethiopia and Kenya.

Reflecting on 2011, the transition in Africa through people driven regime changes and positive economic outlook are certainly the building blocks needed toward a better livelihood for all in Africa.

The Editor

 

 

 

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