We must transfer from China to Africa, a part of industrial production

This global paradigm shift would enable the modernization of Africa and would offer some countries the possibility of escaping the Chinese trap of African debt in order to preserve their sovereignty. The installation of infrastructure and industrial tools of often Western companies as well as the creation of a large network of local companies would generate tens of millions of jobs on African soil that would be more remunerative than those in the informal sector. This transformation, which would nevertheless be respectful of the environment, would promote new exchanges between African states and their partners, often French, European, American and sometimes Asian. It would increase the growth of each of them.  

When ideology prevents the development of Africa and maintains poverty  

At international summits, at a time when extreme poverty and famine are wreaking more havoc than ever, Westerners and well-fed Africans frequently explain to a population of 250 million people suffering from malnutrition in an Africa that is virtually devoid of industry and has low CO2 emissions, that the priorities must be digital transformation and a green transition of uncertain contours. Whether this is technocratic thinking, cynicism, dogmatism or ignorance of the African economy, everyone will judge. But the prioritization of insufficient or illusory proposals that will not produce significant effects quickly in economic matters, is likely to delay the development of the continent and worsen poverty.  

A model that could meet the aspirations of African youth  

At the end of 2020, in an article published on La Tribune Afrique entitled "Sub-Saharan Africa : capitalism could succeed where development aid has failed for 60 years", we questioned the effectiveness of public aid that has exceeded $1,000 billion but has not succeeded in reducing informal employment, which still concerns 85 to 89% of the active sub-Saharan population. Industrial enterprises would provide better-paying jobs. The reasonable increase in production wages that we advocate in our studies on the "International Convention for a Global Minimum Wage" project would also contribute to a rise in the standard of living of the population and accelerate Africa's development. This could respond to the wish of many Africans who would like to make a better living from their work and break away from assistance that is certainly benevolent and often indispensable but that reflects a negative image that they want to change.  

Structured plan for industrial regionalization in sub-Saharan Africa  

As we have already written in french newspaper Le Figaro, "Reducing our dependence on China is possible !". But only a "Europ-Africa production regionalization plan", realistic and structuring but also taking into account the new geopolitical and geo-economic parameters, could succeed. A financial involvement, even moderate, of each of the countries that would like to strengthen their economic presence to increase their trade with Africa within the framework of the program, would be essential. Companies from these foreign signatory states could benefit from support to facilitate their establishment (recruitment and training, legal, fiscal and administrative assistance, financing, studies, etc.) which would contribute to the attractiveness of sub-Saharan Africa. We will be able to build global industrial schemes within which they can project themselves and which will convince them to move part of their production. It will be necessary to look for sectoral complementarity in order to create efficient and coherent ecosystems. This proximity will also help reduce the transportation of materials or parts within global value chains (GVCs).  

A concrete and easily financed program 

The cost of building industrial bases, including road, rail, airport or port access, energy supply, telecommunications networks, roadworks, waste management, but also security devices, housing, schools, medical centers and essential shops, would be eligible for funding by major international institutions and donor countries as part of Africa's development. The amount spent for each industrial site that would be built every 2 or 3 years would be around 3/5 billion euros. In contrast to policies or economic proposals, international or local, often hollow and without a future, but which have sclerotised the development of sub-Saharan Africa for 60 years, the "Africa Atlantic Axis" program could on the contrary, be implemented in the medium term if the populations of the African countries most concerned so wish. The international financial institutions could only join this project of progress for Africa. Indeed, this process of industrial integration would increase the budgetary resources of States. It would allow the securing of territories, would raise the purchasing power of populations and would offer enormous development perspectives for a continent whose economic construction would require the energy of all its youth.  Published June 1 on Financial Afrik

Francis JOURNOT is a consultant and entrepreneur. He leads the Plan for a regionalisation in the Europe Africa zone or Africa Atlantic Axis program and has been doing economic research since 2013 for the International Convention for a Global Minimum Wage