By Demba NdiayeAs in any other market environment, coping with the underpinning values and priorities of such market structure matters most.
The so-called "advantage of backwardness" defining the relative disadvantage of African economic structure, makes it a good fit for conservative approaches to sustainability. In other words, the evolving shift in business paradigm and world economy governance framework remain all favorable to ramping up of business in Africa!
African youth remains very active and perspicacious along with 21st century social media interactions and many friends started noticing since 2006 that such youth is almost outpacing local institutional social, cultural and political canvases... Drawing their hybrid insights from an international marketplace of ideas and tastes, way beyond homegrown stereotypes...
The actual generation of "backward" leaders today in Africa (albeit mostly formatted to western styles) constitutes the institutional bottlenecks giving the false impression of our people's unreadiness to meet the development challenges facing those millions of youth taking it onto the high seas through "canoes of death", wreckages at large in the freezing shores of Europe and the African Mediterranean peninsula...
Paradigm shift as understood at last by main Multilateral Development Banks and lately encouraged by International Finance Corporations, has made it possible to embracing the sustainable development goals (SDG) from 2016 forward. In the case of Senegal, besides political leadership change since 2012, agrarian economy inherited way back since independence has consolidated most of the country's GDP in the midst of marked trade deficits.
At its current stage in development, informal sector is known to being the driving engine of local economy, same can be said to our regional counterparts... Needless to say that such seemingly "positive" lead is tainted with inefficiencies associated with poor tax administration and management due to major illicit financial flows from tax evasion (kuddos to lion share of International Companies) to unchecked remittances implications.
Overall after all the DOs and DON'Ts you can think of it would be advisable to foresee the merits of partnerships within and across the Diasporas to make better use of any attempt to doing business in Africa... Development models pointing one aspect of the puzzle have failed. Sector specific reforms without regards to regional equilibriums have worsened and disfigured local prospects of improvement...
"United we stand" has been and remains a proverb in Africa, a slogan and an axiom very much known to our cultural tenets... at least, may that commonality help elevate the debate!
You can be a loner in any other areas of self-development... fostering your own achievement... it's only in sustainable development theory that such fails remarkably: you must connect, cope with, synergize in order to get energized, in that only Various prospects bring unified Vision.
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Article Source: http://EzineArticles.com/expert/Demba_Ndiaye/1751841
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Article Source: http://EzineArticles.com/9246846
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