Bolstering African strategy for sustainable development and its diaspora's influence on African development renaissance

Abstract

African diaspora can be a potent force for development in Africa through the promotion of trade, investments, research, innovation, knowledge and technology transfers. Billions in African diaspora savings could bolster growth in Africa. For example, if one in every 10 members of the diaspora could be persuaded to invest $1000 in his or her country of origin, Africa could raise $3 billion a year for development financing. This paper delves into one of the approaches via which sustainable development can be achieved across Africa. It identifies that the New Partnership for African Development (NEPAD) will play a significant role in attaining this goal. In addition, recognizing that so much of Africa's brainpower is found 'off-shore', NEPAD has made a start in bringing resources to bear on African Development. Nonetheless, the study observed that lack of patriotic leadership has been a major challenge towards sustainable development in Africa. The study views Diaspora's alignment with NEPAD as the pivot for fresh partnership between Africa and the world beacons on the international community, especially the emerging economies such as China, to help bridge the development gap that has widened over the years of unequal relations; to achieve Africa's development renaissance.

Creative Approach to Development: Leveraging the Sino-African Belt and Road Initiatives to Boost Africa’s Cultural and Creative Industries for Africa’s Development

“…Yarger’s view on strategy further identified the need for a synergy and symmetry of objectives, concepts, and resources to increase the probability of policy success and the favorable consequences that follow from that success, which the BRI embodies. Africa’s development strategy for achieving the sustainable development goals (SDG) and Agenda 2063 includes the overall efforts of creating Africa for the African people and for Africa to assume its rightful position within the global community [ 11 ]. At the 2018 FOCAC high-level meeting, a sizeable chunk of African countries (37) and the African Union signed cooperation agreements on the BRI to facilitate the alignment of the BRI with the African Union’s Agenda 2063 and the United Nation’s sustainable development goals for Africa’s development [ 13 ].…”

“…Consequently, Africa’s partnership with the rest of the world needs to be strategic and geared towards Africa’s development programs [ 11 ]. Speaking of strategic partnerships, African countries have found a better partner in China.…”