The countries in Africa need to reappraise their trade practices if they are to join the elite nations of the world.
This is the view expressed by John Akhile in his book, Unleashed, which asserts that trade is the only means by which the continent’s nations may thrive and prosper.
Akhile, who owns and runs export-led businesses in the United States, believes “the potential of Africa to create the next great trade and economic bloc is a very real possibility.”
This, he says, can be accomplished within two decades as “major oriented trade is well within reach.” African countries, “from the smallest in land mass and population to the largest, can emerge from poverty into relative affluence.”
Trade is central to growth, Akhile contends. “The exchange of wares that trade fosters is the basis of national economic prosperity.”
He elaborates: “In the history of the world, few if any countries have developed without involved and positive participation in global trade. Trade has been and remains the catalyst that propels nations from poverty to prosperity.”
For this to occur, African countries need to learn lessons from other regions of the world, especially Western Europe and East Asia, where a focus on trade has led to economic growth and development.
A relatively quick way to begin is for African countries to begin trading with each other as the level of intra-Africa trade is very low. “African countries working in unison have the potential of creating a major intra-African business and trade nucleus,” he writes.
Trade policies, currency conversion and transportation are among the issues that need to be resolved to enhance trade on the continent. Currency conversion problems can be overcome by “cashless transactions that African countries can deploy which will vastly expand intra-Africa trade.”
Describing international trade as “a vicious business” and “war fought with goods and services,” the Nigerian-born entrepreneur declares that “African nations must employ unconventional trade techniques as a matter of critical necessity, because they are still the most cash-strapped region of the world and depending exclusively on conventional trade is very unsound.”
Unleashed is available for purchase at Amazon.com.