How Rethinking Africa’s Economic Philosophy Can Boost The Continent

Originally published on 702

Africans stand to benefit from reinventing their economic philosophy to better align it with the development needs that the continent faces.

Africapitalism is an economic principle that embodies the private and public sector’s commitment to the economic transformation of Africa through investments that generate socio-economic sustainability.

Somachi Chris-Asoluka said the notion of Africapitalism has the potential to curb the exploitation of African markets by multinational firms.

Africapitalism is telling a new narrative where investments can have a human feel and lead to economic wealth and social prosperity. –Somachi Chris-Asoluka, Analyst at the Africapitalism Institute

Chris-Asoluka said the characteristics of Africapitalism include entrepreneurship, inclusive growth and regional integration and have the ability to enhance the creation of local value and accelerated prosperity throughout Africa.

Through her work with the Tony Elumelu Foundation (named after the Nigerian banker and entrepreneur who coined the Africapitalism term), has vast experience with the practical applications of Africapitalism.

 

 

 

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