Mandela Archives - Gong Kenya

Isabelle Alenus-Crosby

At Nelson Mandela’s memorial yesterday, President Obama hailed the former South African President as “the last great liberator of the 20th century”.

He is also being remembered for the formidable role he played in building up Africa’s largest economy. Mandela famously believed in the link between economic and political progress, and as a result, South Africa’s gross domestic product grew from less than 1.5 % from 1980 to 1994 to almost 3 % from 1995 to 2003. South Africa is now proudly the “S” in BRICS, and its economy is still going strong 20 years after Mandela first came to power.

Aside from all this, Mandela ensured that South Africa became an important source of economic opportunity for its neighbouring countries too. It can be argued that their successes, in turn, influenced the rest of the continent. Mandela was certainly therefore the great liberator of Africa. According to the latest statistics by the IMF, the continent’s economy is projected to have grown by 4.8% in 2013 and accelerate further to 5.3% in 2014. He didn’t merely bring South Africa into the global economy, but was key in making sure the rest of Africa would also thrive one day.

Last but certainly not least, it is important to note the effect that Mandela had on successive generations of investors, who in order to support him in his struggle against apartheid, came to recognize the power of investment to change things for the better, as well as the impact sustainable and responsible investments could have on anything from fighting injustice to empowering women and combating climate change.

Nelson Mandela has therefore left us with resounding legacies and the world is undoubtedly a much better place thanks to him.

Isabelle Alenus-Crosby

Until recently, Africa had a small, very wealthy top, a broad base of poverty, and no middle market to speak of. Today the continent is developing into one of the largest mass markets in the world.

However, many Africans are still trailing behind. The new $7 billion “Power Africa” initiative, that President Barack Obama announced on June 30^th, could contribute significantly to push the lower class towards the middle. Increasing electricity production and distribution throughout sub-Saharan Africa is undoubtedly crucial to the entire continent’s success. The fact that Obama put emphasis on “Green Energy” (Solar, Hydrogen and Wind in particular) was very much in line with the rest of his statements that day, which brimmed with clear insight into Africa’s lingering issues.

I have transcribed my three favourite parts of his (now famous) speech and would like to share them with anyone who might have missed this.

“I am proud to announce Power Africa – a new initiative that will double access to power in sub-Saharan Africa… And in partnership with African nations, we’re going to develop new sources of energy. We’ll reach more households not just in cities, but in villages and on farms. We’ll expand access for those who live currently off the power grid. And we’ll support clean energy to protect our planet and combat climate change”.

“Look at Zimbabwe, where the promise of liberation gave way to the corruption of power and then the collapse of the economy. Now, after the leaders of this region brokered an end to what has been a long-running crisis, Zimbabweans have a new constitution, the economy is beginning to recover. So there is an opportunity to move forward — but only if there is an election that is free, and fair, and peaceful, so that Zimbabweans can determine their future without fear of intimidation and retribution. And after elections, there must be respect for the universal rights upon which democracy depends.”

“In much of Africa you see women doing work and not getting respect. I tell you, you can measure how well a country does by how it treats its women.” President Obama also emphasized that Mandela’s values are Africa’s future and that African youth had to seize a “moment of great promise”. Only the current Zimbabwean government lashed out at Obama following the Cape Town address. I guess that in itself is quite meaningful.

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Mandela – Hero of Africa’s booming economy

Power for Africa

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