The New Rich in Africa!

They have no faith. They have no Loyalty. They are fearless. Money is their new God. They are the new Rich in Africa.

In 2012  Africa became the fastest growing continent in the world with the highest number of new millionaires. There are now more than 100,000 millionaires in Africa and about 20.000 new millionaires will be added every 3 years.

For the first time the new millionaires are not politicians stealing money from public fund, but hard working entrepreneurs and a bunch of traders!

They have one thing in common: They solely care about amassing money regardless of the social cost and the impact on their own country and communities. They want to be the only stars shining over an ocean of poverty.

 New African Rich

Few years ago, a study was conducted to check the relationship between corruption and countries’s development, and the research concluded that corruption is not by itself a problem for a country’s development, instead the most crucial factor is: “what people do with the money they have stolen”.

The study compared few Sub-Saharan Africa and East Asia countries, and discovered that many Asian countries in the group were comparatively more corrupted than counterpart african countries but were growing faster with sustainable social and economical development.

Furthermore, the study stated: “In some cases, corruption can be an effective state-building tool, as it enables the co-optation and accommodation of divided elites and thus consolidates political power.” – Global Economic Governance.

The main finding is that money from corruption in East Asia was used by the corrupted people to start new businesses and build factories, while in Africa the money was mainly used for consumptions and non-asset-building investment.

Unfortunately, the New African Rich are acting like the previous generation of corrupted politicians. They spend their fortune in consumption of goods produced outside of the continent.

Rich-subalterns

Gabon is now the country where people drink the most Champagne per capita in the world. The same for consumption of bottled water from France.

Nigeria is beating world record of number of new luxury cars sold in the world.

In fact, the new rich should invest in building factories, engineering school, technology startup, not importing more goods from Asia or elsewhere, but build local manufacturers.

The-New-Rich-In-Africa

Countries which achieved long term development, luckily got leaders who committed themselves to goals like below:

  • – In 10 years, I’ll not drive a car which is not produced in this country!
  • – In 2 years, I’ll not sleep on a bed which is not entirely made here!
  • – In 1 year, I’ll not wear any clothe that is not produced here!
  • – In 25 years, No students from this country should be obliged to go abroad to study because our universities don’t offer  the same course with quality!
  • – In 50 years, my country will be politically and economically affluent in the world, with my citizen respected and admired all over the world!
Mawuna Remarque KOUTONIN

About Mawuna Remarque KOUTONIN

Mawuna Koutonin is a world peace activist who relentlessly works to empower people to express their full potential and pursue their dreams, regardless of their background. He is the Editior of SiliconAfrica.com, Founder of Goodbuzz.net, and Social activist for Africa Renaissance. Koutonin’s ultimate dream is to open a world-class human potential development school in Africa in 2017. If you are interested in learning more about this venture or Koutonin’s other projects, you can reach him directly by emailing at linkcrafter@gmail.com

5 Responses to “The New Rich in Africa!”

  1. Darko Opoku - Addo

    🙂 Amazing!!! I think i just read about everything on this guy's site. Good work bro.

    Reply
  2. Jeffrey Johnson

    This is what I cannot stand about our overseas brothers. Build a freaking car company, a jet propulsion company, an irrigation company don't buy Private Planes and Mansions. Their soo greedy

    Reply
  3. Deejay Smellsogood

    wow!! i wanted to go home (Africa) but hell they are doing the same silly mess we doing here and look where that has gotten us!!! Plus they got more money than the average and that triples the problem!! My point: no sense in having cents if you dont know how to spend it and make it return for a repeat performance aka REINVESTMENT!!

    Reply

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