The Economist’s recent Special Report on Africa argues that “minds, not mines” — in other words the productivity of its people, not its commodities — is pivotal to the continent’s future. This is exactly the outlook that we embrace, for a dependence on oil, diamonds or any minerals inevitably creates cycles of booms and busts that destabilize a subset of African countries and their people.
We also agree that the proven path to Africa’s prosperity requires improving the building blocks of good governance, making systemic improvements to each country’s infrastructure, health care, education and employment services — whatever is needed in each unique country to boost the quality of life for generations to come.
A continent of 1.2 billion people (predicted to be 2.5 billion by 2050 — a quarter of the world’s population) offers too big an opportunity for governments, nongovernmental organizations, donor organizations and corporations not to embrace it fully — from both a financial and a humanitarian perspective — especially when the Economist points out that the African continent is more peaceful and democratic with more leaders employing sound economic policies than in the past.