The just concluded African Heads of State meeting in Nairobi is a pointer to fresh and sustained commitment by the leaders to promote regional homogeneity. Coming at a time when many think that African countries have been collectively subordinated to a worldwide ‘market totalitarianism,’ there is need to chat new development cause. Fresh ideas and relentless pursuit of economic liberalization would lead to political liberation and ultimately advance democratic polity in the region.

The AU leaders should be zealous to address the socio-economic and political challenges that impede the region’s stability. So far, the teething issues have been identified. Forging solutions is now the focus.

It is important that our leaders direct their energy to improve our economies.  For many years our economies have been dependant on Foreign aid. How do we fly out of this quandary? The solution lies in the private hands. Arguably, an economy that places productive property in private hands invariably confers great wealth and privilege on owners at the expense of the masses.

Today, economic globalization has unleashed productive forces throughout the world leading to expansion of markets and insertion of technology in the processes of production. Now, the people of Africa want to see a new culture where the law of nature and wealth meets the needs of all humanity as opposed to select few financial oligarchs. This can only be achieved through a productive economy where there is an ‘ecological’ balance between productive and consumptive politics.

It is unfortunate that apart from a few African countries that have been making sustained effort to push for productive economies, others are still held hostage by consumptive politics. Each electioneering year, new political parties that are soon disbanded after the elections are formed. It raises suspicion on their motive. This is making it difficult to implement some of the long term visions targeting economic prosperity.

Policy makers are even hard put to modify political party manifesto visions each time a new administration comes in. This is because each administration wants to act their way. The sticky situation is to blame for the delayed implementation of sound and sustainable macro-economic policies aimed at improving the socio-economic living standards of the African people.

The political elites have imposed unprecedented power of a few awesomely wealthy and powerful individuals over the masses - precisely, (hoi polloi), engulfed in poverty. Uneven development long linked with capitalist expansion is probably the most discernible trademark of globalization and regionalization in its modern-day form. This is not the way we want to go. We want an egalitarian civilization. While it may not be possible to achieve it in the short run, the processes to achieve the goal in the long run must be pursued.

Although, the accelerated globalization of the world economy has particularly had a pessimistic impact on African states, we must begin to think of the way forward to our economic autonomy. It is good news to hear that countries like Kenya, Uganda and Botswana are emerging as the next economic frontiers and are challenging old stereotypes.

Capital, particularly financial capital, now flows freely across borders with devastating consequences for the so-called emerging economies. Thus states in Africa have increasingly come under pressure to conform to the new demands of the regionalization processes and cross cultural global homogeneity. Then again, the increasing the new divisions have been between those countries and regions which can adapt to the new way of economic survival. This has further engendered competition between the weaker countries for investments, foreign direct Investment (FDI) and other resources especially in East Africa.

But which is the way out? I looked at some African cartoon, placed in The African Executive journal, and I was so amused. The caption captured it all. It was a homo sapien-like image overloaded with African debts. The homo sapien was wondering where to seek refuge - as a fortress of defense to save the continent from its bloated debts. The Cartoon only reminded me that the Bretton woods institutions should cancel debts for the Third World countries.

Non-Governmental Organizations like Jubilee 2000 have been fighting for all the debts choking African Countries to be written off. The voice must be loud until we hear the IMF and World Bank say: “Africa - we are cancelling 30 percent of your debts this fiscal year.” It sounds a tall order! But it can work.

But this should come with tightened austerity measures to insulate the financial management from the pangs of the financial oligarch lest they take advantage to make fortunes. All these developments can be realized if there is improved peace and conducive atmosphere to do business. Africa no longer wants to feel ‘lethargic’ in the supranational arena.

By Kepher Otieno
kepher43@gmail.com