Reflection and Strategy: Virtues that Africa Should Emulate

Published on 1st March 2016

Barclays, the British bank that has been operating in Africa for almost a century is set to exit the continent to refocus on its core UK and US markets in a move that it has termed ‘strategic.’ Barclays Africa Group Limited, which includes the South African branch network Absa, is one of the largest banks on the continent, with 1,267 branches across 12 countries, including Kenya, Ghana, Tanzania, Mozambique, and Uganda.

While the bank’s move elicits mixed reactions on the continent’s investment environment, it is worth noting that reflection and strategic moves worth emulating for socio-political and economic development. Reflection and strategy will help Africa build competitive advantage, choose the right development partners, improve governance, revise development pacts, adapt to change, galvanize African countries to achieve common goals, prioritize financial needs, maintain focus, settle on what works and move from plan to action. Africa should also reflect on why it has lost such a major investor.

This article has been read 2,193 times