DUBAI-BASED Zimbabwean businesswoman Edith Nyabaya says African countries have the capacity to turn into multi-trillion dollar economies if they manage their natural resources well.
Speaking to African businesspeople at a private dinner held in the Asian country at the weekend, Nyabaya emphasised the potential of African countries to develop their economies using their natural resources.
“Africa can easily turn into a multi-trillion-dollar economic powerhouse and move from relying on external investments and become the biggest investor as a continent,” Nyabaya, also a leading advocate for sustainable development in Africa, said.
“Africa possesses the resources and resilience necessary to drive self-funding, laying the foundation for unprecedented infrastructural projects and economic growth and ultimately poverty eradication.”
She said her vision was to implement the idea of utilising Africa’s abundant resources in sectors such as agriculture, mining, and technology, among others.
“By leveraging on these assets, African nations have the opportunity to become self-reliant and significantly reduce dependency on foreign investments and aid,” she said.
“Such a strategy aims not only to accelerate development but to create jobs and eradicate poverty across the continent.”
Nyabaya said such an approach promoted a future where African countries are debt-free and self-reliant.
She also outlined a dynamic blueprint for nations to adopt, focusing on sustainable resource management, domestic investment in human capital and regional co-operation.
“This holistic approach could stimulate employment, boost productivity and improve living standards continent-wide,” Nyabaya said.
The African continent is regarded the poorest despite being endowed with vast natural resources.
Coupled with natural climatic shocks, the continent has been depending on aid from Western countries to alleviate hunger, among other problems.
Critics, however, cautioned against potential pitfalls, such as political instability and corruption, which could hamper these ambitious goals.
Despite these challenges, Nyabaya urged immediate action and collaboration among African nations.
“The initiative calls for a collective effort, wherein governments, private sectors and local communities harness their collective strengths to build a robust economic framework,” she said.
“The time for Africa to rise is now, and together, we have the power to shape our destiny. No child should ever suffer from hunger, starvation or lack any necessity in Africa.”
