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Author: Adejare Rasheed Olaoluwa
Publisher: Bookspider
Year: 2023
Reviewer: Gregory Austin Nwakunor
One of the most prominent trends in postcolonial African history is ‘underdevelopment’ studies, using Walter Rodney’s How Europe Underdeveloped Africa as a manual or curriculum guide. Masu.
Rodney’s book, written in 1972, questions the role of politics in shaping national differences in economic development. The report argues that to fully appreciate and understand the impact of European exploitation on Africa, he needs to address four different issues: These are the reconstruction of Africa’s pre-European development situation, the pre-expansionist European development situation, and their mutual contributions to the current situation. Developed or not.
After an introductory chapter that provides a definitional discussion of development, underdevelopment, and related terms in historical and contemporary contexts, he devotes one chapter to each of these four issues.
In fact, one of Rodney’s main claims throughout the book is that Africa developed Europe at the same rate that Europe did not develop Africa.
Rodney argues that a combination of power politics and European economic exploitation of Africa led to the poor state of African political and economic development evident in the second half of the 20th century.
He concludes the book with a chapter criticizing arguments that advance the “supposed benefits of colonialism.”
This chapter also discusses the means by which colonialism is linked to Africa’s current underdevelopment.
In his book, How Walter Rodney’s Europe Failed to Develop Africa (Daraja Press, Montreal, 2017), Karim Hirji, a former professor of medical statistics and fellow of the Tanzania Academy of Sciences, writes: It is stated as follows. A continent that has been misrepresented, devalued and vilified for centuries. Those depictions justified the subjugation and exploitation of people. Therefore, he did not mince words when characterizing that reality. On the contrary, he deserves praise for breaking his silence and shaking the conscience of his colleagues. ”
Before Rodney’s appearance and charges, philosopher Frantz Fanon’s 1961 book Les Damnés de la Terre (French: Les Damnés de la Terre) had become a rallying point for African decolonization.
In his book, Fanon provides a psychoanalysis of the dehumanizing effects of colonization on individuals and nations, and the broader implications of establishing social movements for the decolonization of individuals and nations. Social, cultural, and political implications are discussed.
Clearly avoiding the trap of rehashing the underdevelopment theory of Fanon and Rodney, Adejare Rasheed Olaoluwa addresses the continent’s poverty problem in Pathways to African Economic Development and Recovery: From Poverty to Prosperity. While asking questions, I am writing a story that takes a different route. .
This book evokes images that stay with you long after you close the book. There’s no point in pretending this is a light read. He makes the chapters crisp and easy to understand.
Central to his work is the role of history in the fight against poverty. But his approach is more than that of a historian. He uses the point of economics, which is clearly reflected in some of the points he chooses to explain. History is not Mr Olaoluwa’s forte as he is a leading engineer, banker and former bank president with over 30 years of experience in conglomerates.
This book makes no attempt to draw on the views of Europe and the Bretton Wood Institutions, such as structural adjustment programs and the World Trade Organization, which emerged from the ashes of the General Agreement on Tariffs and Trade (GATT). They are trying to save Africa from its predicament, but the paradox is that they are pushing Africa further into extreme poverty.
The author begins with the words, “Africa’s collapse is complete.” In other words, Africa’s underdevelopment situation has come full circle and the only solution lies in the total construction and dismantling of its economies.
He asks questions like, how did we get here? How do we achieve economic development and rise from extreme poverty to prosperity?
He asks Africans to think again. After 60 years of instability, living standards are rising slowly, even as inequality is widely believed to be skyrocketing. Mr Olaoluwa believes now is the time to repair the continent, especially with visionary leadership to avoid the divisive elements that divided Africa in the past.
Drawing on both historical and empirical evidence, he chose simple, expressive coffee table books as a means to combat Africa’s endemic poverty.
This book gives policymakers and stakeholders tasked with moving Africa to the next stage of development the opportunity to look through pictures of a gloriously violated past for insight into positive decisions. Masu.
Gorgeous photography, glossy print, and bold fonts invite readers to pick up a book waiting to be explored at home. This book explores Africa, poverty and the path to prosperity in a continent rich in human and natural resources. It provides a useful guide to how Africans and African leaders can work together to build a better Africa.
We provide in-depth research and insight into the events that shaped Africa as we know it today. It also provides solutions to these problems through a comparative study of other prosperous countries. This is a must-read for anyone interested in the coming African revolution.
In his foreword to the book, Professor Benedict Oakey Orama, Chairman of the African Export-Import Bank (Afreximbank), highlights research and technological advances as key issues that shaped Olaoluwa’s thinking.
“The author observes how technological advances have translated into industrial development and economic gains in developed countries, and Africans must strive to achieve the same outcomes and close existing gaps. ” states.
Orama continues, “All the technological motivation that sparked the first industrial revolution in Europe and later other regions was through the entrepreneurial spice sent to Europe that launched the American industrial revolution and the Asian masterstroke.” , detailing how they were transported to other parts of the world.” Reverse engineering techniques have created an attractive environment for Western technology giants to invest in. ”
In his foreword, Tony Elumelu, Chairman of Hire Holdings and United Bank for Africa, said: “For Africa to experience true economic prosperity, discipline and pragmatic adjustments are needed on all fronts. We need to accelerate structural reforms. We need to tackle unemployment, we need to provide electricity to our people, and we need to effectively utilize our resources, both human and capital. We need to support African women. We have to economically empower them.”
Mr. Elumelu further added, “Leadership is important. We must have the right type of leadership. We must have leadership, a leadership that is capable of rethinking relationships with stakeholders within and outside the African continent. We must empower young people with the determination to advance sustainable private sector institutions. We have to focus on empowerment.”
Both Elumelu and Oramah summarize the core issues addressed in this book in two 116 pages.
Volume 1 is divided into two parts, each with four chapters; the first part is entitled “Africa: A Story Through History,” and the second part is “Africa’s Struggle for Economic Development.” Volume 1 contains 62 pages of well-researched questions. Appendix, dedication, preface, and preface pages.
The first volume traces Africa’s economic history from colonial times to the present day, while in the second volume the authors carefully curate the contested aspects of their recommendations.
In the first volume of eight chapters, the book draws connections between Africa’s historical experience and the key internal and external factors that have produced Africa’s current economic conditions.
The author guides the reader through the historical trajectory and its economic impact on today’s exploration of economic development. He said, “Many Africans are migrating to Europe and America primarily in search of economic livelihood. But the irony is that it used to be the other way around.”
Olaoluwa points out that the gains from the encounter with Africa led to various treaties with African empires and kingdoms aimed at free access to the continent’s resources. “Europe therefore needed to develop a plan that would allow African countries to continue to enjoy these benefits while giving an impression of independence.”
He said, “The benefits of having colonies were immense.European powers had free access to the colonies’ natural and human resources. It was very difficult to give up.”
Volume 2 highlights the economic development paths followed by other developed countries and what steps African countries need to consider to achieve the same.
On page 54 of the second volume, the author raises the need for Africa to embrace agricultural reform and industrial development, stating that both are the foundations of growth and development.
From the agricultural revolution to the first, second, third and fourth industrial revolutions, the author argues that a successful development path has been created by Europe and that African countries are using it for their own development. He points out that it must be utilized.
“With the right foresight and disciplined leadership in the relentless pursuit of Africa’s economic interests, Africa has a window to rise from poverty to prosperity,” he said.
Just flipping through the pages reveals that this paper is an excellent explanation of the European development situation in Africa, and Olaoluwa deserves a five-star rating for this paper.
Olaoluwa has over 30 years of extensive experience in the financial services, investment management, banking and oil and gas sectors. He achieved first class honors in Civil Engineering from Obafemi Awolowo University, is an Associate Member of the Institute of Chartered Accountants of Nigeria (ICAN) and holds an Executive MBA from the International Institute of Management (IESE) in Spain.
He was the Pioneering Group CEO of United Capital, a leading financial investment services firm, and the Pioneering CEO of UBA Africa. This experience gave him a broader and deeper perspective on economic development issues across sub-Saharan Africa. And through his mentorship in acclaimed executive programs such as Lagos Business School, INSEAD, Harvard Business School, and London Business School, he has gained the insights needed to transform Africa.
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Source: guardian.ng