Africa’s recent financial surge has caused a swift boom in African growth, to the point where it is currently the fastest growing area in the world. The exciting new opportunities are drawing considerable interest from venture capitalists all over the world, looking to take a bite out of the fresh new market. Philanthropists and charities are all looking for ways to establish operations and guide Africa’s growth.
Tony Elumelu, an African banker and philanthropist, is fighting hard to keep Africa’s growth directions in Africa’s hands. He maintains that the only way Africa’s growth will be a strong and consistent one is if African leaders are holding the controls. Along this vein, Elumelu is urging international businessmen and philanthropists alike to consider Africa’s best interest and to remain ethical when investing in it.
Elumelu’s request has a lot of sound logic behind it, both in the effect and the anxiety that necessitates the request. When charitable foundations and venture companies come in to spur growth in a third world country, it almost always enforces a little of the culture that the charity or foundation originates from. African culture should not be a casualty on the path to its economic reform. Elumelu does not state that Africa is not wishing for help, but rather that they want to be in control of how their nations grow.
The important thing to remember is that charitable and philanthropist organizations exist to help others. It is perfectly within the rights of those receiving aid to control where that aid goes to.