The 3rd Scramble for Africa, & Global Economic Governance Supremacy RL Vol. XII No 121 MMIXX

The 3^rd Scramble for Africa

Ultimate Frontier for Global Economic Governance Supremacy

Public Lecture - RL Vol. XII No 121 MMIXX

Costantinos Berhutesfa Costantinos, PhD

Former Chairperson of the AU Anti-Corruption Advisory Board &

Professor of Public Policy & Sustainable Institutional Reforms

https://addisababa.academia.edu/CostyCostantinos

Abstract

The lecture focuses on the challenges posed by Africa in the third scramble for its resources coming right after colonialism and the post-colonial Cold War divisions. The statement of challenges stems from “Foreign investment helps countries not only by applying new technology but also by reorganising the way people work and by keeping an eye on costs. Few governments do these well, corrupt ones least of all. In the past, a lack of political will and weak governance has tended to contribute to the bourgeoning illegal exploitation of natural resources in the Africa. True, Africa is reaping economic benefit, but there is no doubt that big power interest in the continent goes beyond mere altruism. Economically, both private and public sectors of big powers are benefiting from this relationship.

The research enquiry augurs on the knowledge gap - challenges posed by Africa in the third scramble for its resources coming right after colonialism and the neo-colonial Cold War divisions. What is the new East-West scramble for Africa? How does this benefit both the scramblers and the scrambled? What does Africa need to do to be prepared to enhance its negotiating position? Hence, the paper dwells on the East-West Rivalry, the scaremongering from Global Economic Governance Agencies, the Chinese move into Africa, the Western Quest for Africa and how should Africa respond to foreign overtures. The hope for strengthening Africa’s position lies in the 32^nd session of the Assembly of the African Union (Jan 2019) that endorsed the recommendations of AU Ministers of Trade on Template on Tariff Liberalisation which was used by Member States in preparing the AfCFTA Schedules of Tariff Concessions. The main aim of the AfCFTA to remove import duty on 90% of all goods while identified “sensitive items” which make up the balance 10% would also be phased out later as tariff free. The agreement is also meant to liberalise commercial services and also tackle the so-called “non-tariff barriers” which include extended delays and harassment at border posts, which hamper trade between African countries. The main opponents to the treaty is Nigeria – because it believes more jobs will be outsourced to foreign companies, these agreements usually come with cutting cost on public subsidy, reduced tax on importation is bad for local industry

Key words: Africa, East-West Rivalry, China, US, third scramble for Africa, AfCFTA,

"Whatever Africa’s leadership, choose to be, shouldn’t they have the Zeal, Commitment, Diligence,

Greatness of Spirit, Consistency and Strength to transform transitional chaos into Alternative Economic

Opportunities provided that can project Africa on an irreversible global growth trajectory. "

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If we go on like this, African resources will be used for Chinese development as they were for Europe,

J H Mensah, former minister in Ghana.

The west should set an example by making public the resources they have grabbed in Africa in the past 400 years to come to the issue of china’s transparency, Li Ruogu,, ExIm Bank of China.

See paper here or https://www.academia.edu/39724281/The_3rd_Scramble_for_Africa_Ultimate_Frontier_for_Global_Economic_Governance_Supremacy_RL_Vol._XII_No_121_MMIXX