In planning national development, the constant fundamental guide is the need for (financial) independence. The 20th Century has become the century of Colonial Emancipation, the century of continuing revolution which must finally witness the total liberation of Africa from colonial rule and imperialist exploitation." (Nkrumah; 1963)
The idea of Finacial Independence for an ethny (ethnic group orrace) is not much different from the same idea for a person. Sadly, it is about as distant from what's real for Afrikan American or Continental Afrikan people as for the average Brotha or Sista you know personally. Whereas typical Afrikan American income is about 1/3 less than Anglo American income, typical GNP (Gross National Product) of Continental Afrikan nations is far less than 1/2 of, say G7 (Britain, Canada, France, Germany, Italy, and United States) GNP. But especially during Afrikan History Month we must remind ourselves that these differences should'nt surprise us.
Arab chattle enslavement of Afrikans began in 750A.C.E. and continues today in some parts of our Motherland. European political dominance followed military assaults often featuring a 20 to 1 kill ratio which began in 1441A.C.E. with Portuguese "slave raids" into North Afrika. These were blessed by the Pope. (Andersen; 1995) Spain joined in sparsely—more preoccupied with "discovering" America—and was quickly followed by Britain, France, Germany, Belgium, and Italy so that their "Scramble for Africa" (Pakenham; 1980) resulted in the fake-border birthings of dependent colonies created by Europeans for European benefit at the Berlin Conference of 1884–1888. Afrikan Human and Material resources were criminally stripped from her as she was being ravaged by war. While only 11,000,000 to 15,000,000 of us arrived alive to America—most in Brazil—for each of these AT LEAST five (or 55, 000,000) died in the bloody process. Amen. Peace be upon them, Amen.
The three (3) parts to "African Glory" (Degraft-Johnson; 1966) are, first, in the peaceful prosperity permeating our land before the invasions. Second, in the relentless resistence to our being enslaved which is exemplified by Grandma Moses Harriet Tubman who courageously defied death and Slave Patrols to emancipate over 300 Afriikans in the U.S. And third, in Black peoples persistent pursuit of power since 1888 A.C.E. This is expemplified by the 1990's election of South Afrikan President Nelson Mandela who, when jailed in the 1960's, was told he'd be bannished till this side of eternity.
That there is ANY gross national production from ANY of the Former Colonies is truely the eigth wonder of the world. True, some of these non-viable economic units—falsely called nation-states%#151;have little more than a flag and a dictator. Still, others show progress towards Peoples Power deserving promotion. In all of these, production there is; life there is; nature there is; hope there is; God there is; and from these justice and peace there will be! It is hard to believe that this can be created simply from the wise use of your investment dollars; so let me be clear. IT CAN'T. So much more than thinking, planning, working and certainly investing will go into the reality of Afrikan Renaissance that it's almost too much to write about. But since investing is part of the fun stuff, let's do it anyway.
There are several ways to invest in Afrika and sending money is at best the second-best way. The very best way is to send yourself. Then you'll experience what you'll otherwise read about. Since single air fare to Senegal from NY is only about $1100. you can get there from here. Such travel can be investment-classed because U.S. dollars buy much more Afrikan goods and services there than here. But then the real profit goes to the traveler in the form of knowledge and character-building.
Investing purely for profit is possible too for both the Global Investor—who buys stocks/bonds in the U.S. AND other countries--and the International Investor—who buys ONLY outside the U.S. It, like all Global and International investing, does add Currency risk and Political risk to the usual domestic challenges of Taxation, Inflation, Liquidity, and Interest Rate risks. But there's something else to consider. IT WORKS. During the first five months of 1997 while the U.S. S&P 500 gained 15.19%, Calvert's New Africa Fund grew 13.98%; the New South Africa Fund grew 14.99%; the Southern Africa Fund grew 18.31%; Merrill Lynch's Middle East/Africa Fund grew 21.93%; and Morgan Stanley's Africa Investment Fund grew 40% during the twelve (12) month period ending 05/31/97. (Africa News via Internet; Feb. 1998) Past performance is no guarentee of future results and this is neither a solicitation to buy nor an offer to sell these or other securities. Whenever curious, you should always get and read the investment description called a Prospectus.
You can't be too careful. Afrikan American investment in Continental Afrikan development has all the emotion of rooting for the "home team." !Bu' When da time come to pu' cho money dow', be show to play wi' cho head an no' cho hah't
Also, remember there are solid reasons in favor of InternationalInvesting. Afrikan Investing is one more motive for Afrikan understanding. We tend to want to know more about the places we put dollars. Until you know it's not, presume your 401k or IRA is fueling the domestic Prison Industry whereby the U.S. is now the leading jailor and executioner, per capita, of its own population in the world. No Socially Conscious Investor can support cigarettes, alchohol, firearms, OR JAILS.
Finally, if good people don't invest in Afrika with good intentions, expect that bad people will invest in Afrika with bad intentions. There is concern that a "second Berlin Conference" was held on U.S. soil in Denver, Colorado last summer. A "Summit of Eight" of the richest countries in the world—the G7 plus Russia—gathered on global issues including: The U.S. G7 Africa Initiative. But NO Afrikan Heads of State were invited!!! Perhaps this was an oversight. Much should be revealed at the "Mega African Trade and Investment Forum" in Phoenix Arizona this May.
But however we use money, manpower, words, and womanpower, we must all work for world peace through continental ecomomic independence AND family financial independence. Towards this, Afrikans must invest.