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We are moving toward a democratic system making it easier for people to establish businesses. According to Bloomberg Business Over 400,000 new businesses have established in Africa in the past year. Businesses can now be confident that tyrants will not come in and seize their business or ask for unreasonable taxes and bribes. With political reform Africa is also calming down and civil warfare is no longer as big of problem. I am of the belief that economic reform and the presence of the United States will cause even greater reform in Africa.

Resources

Africa has always been known for it's resources, the root of many of Africa's problems start because of it's resources. Matter of fact in

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In the Democratic Republic of Congo, there is over 24 trillion dollars worth of minerals and resources. I am sure that some of you have watched Blood Diamond or Hotel Rwanda, and if you have not the films showed the evil that these minerals cause in Africa. Many ruthless landlords kill over the opportunity to own these mines.Africa is home to oil, lumber, diamond, gold, cobalt, iron,platinum, copper and many more minerals. One mineral I would like talk about specifically is columbite-tantalite better known as coltan. Coltan is a mineral used in electronic products like the Iphone. Africa is the biggest producer of coltan, therefore as technology rises in the world, the demand for coltan will also rise. Recently Minerals like this in Africa have created tension in the continent. However if taken properly and responsibly these minerals can cause great wealth businessmen worldwide.

Labor Market

In the late 1500's and early 1600's the English population grew from 3 million to 4 million. At the time economic depression hit the sheep grazing market which at the time was the largest market in England. This left millions of people unemployed. However this rise in unemployment provided the English with able bodies. At the same time the new idea of joint-stock provided English with financial means. Put the two together and England looked at it as an opportunity for colonization. By 1607 they founded the first English colony of Jamestown. How does this relate to Africa? Experts believe that by 2040 Africa will have the largest workforce in the world. This means companies will have absolutely no problem in finding able bodies and wages will not be nearly as high as here in the United States. With a boom in the African population and an influx of foreign investment you can expect an economic and social uprising similar to England in their early stages of expansion.

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Posted in Business Post Date 11/09/2020


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