Africa's financial empowerment: 20 nations aiming to raise $1trillion each in 8 years
Future Trends Group, the agency behind China's economic powerhouse, has set its sights on 20 African countries with a bold ambition: to cultivate a trillion-dollar economy for each within an eight-year timeline, all without foreign aid or support.
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Among the countries in the spotlight for this ambitious endeavour are Ghana, Nigeria, and the Democratic Republic of Congo. The plan involves harnessing their abundant natural resources, human capital, technology, and fostering a resolute "can-do spirit."
Acknowledging the leadership challenges and political volatility that some African countries face, particularly within the sub-region, the team has initiated extensive engagement efforts. This includes interaction with Civil Society Organizations, financial experts, government officials, and the general population.
Pioneering the Africa move
This audacious African initiative operates under the banner of the "Future Trends Africa Manifesto," which was unveiled last year. Presently, around 30 African nations are studying the manifesto to gain a comprehensive understanding of its principles and implementation strategies.
The track record of Future Trends Group is impressive, having brought about transformative economic change in more than 150 countries globally, including China.
While China's remarkable economic transformation took two decades to materialize, Farzam Kamalabadi, the President of the Group, expressed optimism that Africa's trajectory would be expedited due to its inherent wealth and resources.
Distinguished visitors
To bolster their efforts in Ghana, the President of the group, Farzam Kamalabadi, accompanied by his Vice, Yang Yang, and Marketing Director, Bushra Hasturk, recently arrived in the country. Their visit was facilitated by Sophia Karen Edem Ackuaku, the Member of Parliament for the Domeabra-Obom constituency in the Greater Accra Region. Ackuaku was honoured with an ambassadorial title in Dubai last year and has since been a driving force behind a "Youth Movement and Media Movement" aimed at rallying citizens behind the project.
With the parliamentary session adjourned for the month, Ackuaku took the opportunity to present her case to fellow parliamentarians, advocating for widespread support and belief in the initiative.
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Venturing beyond legislative chambers, Ackuaku has embarked on a rural tour to motivate young people to remain in the country and contribute to its transformation. She lamented the trend of skilled professionals seeking opportunities abroad and urged a shift in mindset, drawing parallels with China's domestic success story.
Strategic framework
Drawing inspiration from China's approach, the Future Trends Africa Manifesto envisions lifting over 20 million African youth out of poverty, aptly titled "The Surprise Rise of Africa." This ambitious strategy is poised to culminate in the "Elevation of Nations."
Should this endeavour prove successful, Africa could emerge as a supplier of excess wealth to less affluent European nations such as Romania and Bulgaria.
Financial strategy
President Kamalabadi outlined the financial blueprint for this undertaking, indicating that the targeted trillion dollars will be drawn from a mix of sources including the "Future Generation Fund," "Sovereign Wealth Fund," and a "Hybrid System" that integrates traditional assets with digital wealth. Notably, these efforts will be undertaken independently, without a reliance on foreign direct investments from donor partners.
The initiative seeks to pave the way for a new realm of possibilities by triggering both conscious and subliminal shifts in attitudes and mindsets, ushering in a transformative era of economic empowerment for Africa.