News
Is Trade for Aid Such a Bad Thing? Do We Want to Be a Charity Case or Business Partner?
By Joel Popoola
Joel Popoola, the Chair of IoD Africa Special Interest Group, a task force aiming to improve trading ties between Africa and the United Kingdom, responds to the newly published International Trade Strategy.
The UK government’s new International Trade Strategy directly links Britain’s aid budget to trade deals – and as a result has been criticised for offering “aid for trade” and accused of putting “politics before poverty” and being “a double whammy against the world’s poor”.
One opposition politician called the policy “short-sighted and wrong” – another claimed, “the UK’s proud reputation as a development superpower has been comprehensively trashed.”
As British, I think things are a little more nuanced.
As Africans, we must ask ourselves – what do we want from overseas aid? Do we want to be a charity case or a business partner?
As a business leader, I know what I prefer.
One path sees nations in Africa, with something of a perpetual colonial status, eternally dependent on handouts from former rulers. The other sees us raised up – and raising ourselves up – to the status of equals.
At the heart of the strategy is a decision that the British government’s contributions to multilateral organisations will decrease in favour of bilateral partnerships.
This means favouring individual aid packages aimed at, in the words of the strategy, “supporting partner countries to grow their economies sustainably” through investment “in particular for cleaner and more reliable infrastructure.”
Does anyone deny that we need that sort of infrastructural investment if we are to realise our potential on the international stage? Much of Africa is crying out for investment in power grids, transport networks and broadband – just look at the epidemic of power cuts which has recently plagued much of Nigeria’s economic centres.
Buying British continues to be something of a status symbol in parts of Africa. We should not fear it being a condition for securing that investment.
The strategy is clear that aid is not intended to be entirely altruistic. This approach is designed to “deliver for people here in the UK – investments abroad will generate export opportunities in the UK, creating jobs right across the country”.
But that does not mean that the approach is entirely without merit for continents like Africa. Of course there is a huge amount of self-interest in the strategy. But this self-interest is mutual. Job creation, transport networks, power grids, renewable energy projects and digital infrastructure are the foundations of future growth across Africa. And this is a path to that growth.
Trade helps countries in continents like outs to grow our economies, raise incomes, create jobs and lift ourselves –and our citizens – out of poverty.
This is a more sustainable and desirable outcome than relying on handouts.
In the short term, I cannot deny that I have anxieties about the strategy’s implementation – shared threats such as Covid-19, climate change and civil disorder, in the case of my own Nigeria from Islamist Militants, demean a coordinated international response.
In its implementation, the strategy must balance infrastructural development with social projects to promote gender equality, education, democracy and other core values.
But in the longer term the approach is consistent with the British government’s support for the African Continent Free Trade Area – which as the world’s largest free trade area, has the potential to boost our entire continent’s economic growth by driving industrialisation, generating jobs and delivering prosperity across the continent.
The UK government has already negotiated a number of free trade agreements with African countries and trading blocs since it left the European Union, creating tariff and duty free trade between Britain and 30 African nations – this means significant opportunities for African consumers and companies, not least in our 24 English speaking countries.
As the head of the Institute of Director’s Special Interest Group for Africa, I want African and the UK alike to benefit from stronger trading relationships.
One UK parliamentary report recently noted that UK-Africa trade has ‘flat-lined’ –accounting for just 2.5% of all UK trade. But before Covid-19 the world’s five fastest-growing economies were all African, and regional leaders like South Africa and Nigeria are likely to become superpowers of the global economy as we move towards the second half of this century. More needs to be done on both sides to take advantage of the opportunities on offer. This strategy is a valuable starting point.
Critics of the strategy also demonstrate a certain naiveté when it comes to which nations are the most self-interested when it comes to international aid.
The UK government has stated that the strategy is designed to challenge “malign actors” who use “patronage, investment and debt as a form of economic coercion and political power”.
These “malign actors” provided Africa’s nations with development funding – but saddled them with debt which comes with political strings attached.
Britain’s world-leading expertise in finance, clean energy and infrastructure – and it’s historic and enduring links with Africa – make it the obvious choice as a partner for mutual prosperity.
Its motivations may be influenced by self-interest – but they are a good deal more altruistic than other nations.
Joel Popoola is the Chair of the Institute of Directors Special Interest Group for Africa which works to stimulate business opportunities, increase networking and grow awareness of British businesses in Africa, and African businesses in Britain.
This article is written in a personal capacity, any views do not reflect the position of the IoD.
By Henry Ukazu
Dear Destiny Friends,
The importance of timing cannot be overemphasized. Timing is everything in life. It is critical to one’s success. You can lose your money and get it back in many folds. You can even lose your health and get it back all things being equal, but when you lose time, you can hardly get it back again.
The importance of timing can be seen in crops. Every crop has a season, a good farmer won’t plant maize when it’s time for oranges, nor will he plant pears when it’s the season for mangoes.
Time is very instrumental to the success and failure of anyone. Imagine having a meeting or interview at 9:00am and you arrive at 10:10am, it will take the grace of God to be interviewed. As an employee, apart from one not being able to diligently do his job, one of the fastest ways for an employee to lose his job is by being late to work.
When I was in New York Law School studying Taxation law, I did a course titled, the Problem of Timing. During the semester, I learnt about cash and accrued income. Let me do some academic exercise here. In cash income, just like the name entails, one is paid in cash as soon as the work is completed. It’s just like going to the market to make a purchase. One can either pay directly with cash or with debit or credit card. But Accrued income refers to revenue a company has earned by providing goods or services, but for which payment has not yet been received, one will have to do the work first before getting paid. This is applicable when one works in either a public or private organization where one is paid either weekly, bi-weekly or at the end of the month depending on the stipulated mode of payment.
It’s important to note that before the money is paid either in cash or accrued, one would have earned it. It’s just like one learning g before earning, and one will have to update to upgrade. These are just the practical principles that will work with life.
In the same way, in life there’s a seed time and harvest time. It’s a universal principle of life. Whether as a parent, entrepreneur, student or employee. As a parent, if you don’t train your kids very well, they will grow up to reflect the opposite of what you desire. As an entrepreneur when you invest in your business, you will get the reward in due time. As a student, if you take your studies seriously, your grades will improve, and as an employee, you stand to get promotions and opportunities when you add value to your work. In summary, one will have to put in the work before recognition comes on.
To understand how seedtime and harvest work, imagine where parents tend to like one child more than others just because they see potential in him, or he’s smart, hardworking or even creative. They fail to understand that every child is different and as such their timing can be different. Some kinds take time to develop.
I personally believe there’s something so unique about each individual which God has deposited in everyone of us. It’s just a matter of time for it to manifest. Your timing of manifestation is different from your siblings and colleagues.
Personally, I didn’t mature fast with my contemporaries. Overtime, I have seen much improvement in my personal and professional life. Maybe because I have added value to my work with the assistance of mentors and good friends, or God had to humble my colleagues and mentors . Why do I say this? During my formative years, I had little or nothing to show for it. I was looking at my contemporaries as mentor and seeing my mentors as small gods whose feat is unattainable, but now, the reverse seems to be case as I have developed capacity some of my colleagues are yet to attain, while I have even surpassed the achievement of my some of my mentors in some quarters.
In all these, they are all surprised how it happened. Some are yet to comprehend or articulate the feat. It’s just like watching a film where everyone slept and woke up to see the game and tides have changed. The secret behind it is the seed time and harvest time. I was probably learning the trade while in the wilderness, and when the training season matured and ripe enough to be harvested, I became attractive to almost everyone who loved the seed I was producing.
There are litany of examples of people, who have been in the wilderness during the seed planting season. Let’s take a case study of Joseph in the Bible, his journey to stardom took a little twist. Despite the travails he experienced in the hands of his siblings who sold him, his experience while in the jail, and with Portiphar’s wife, who tried to seduce him; they were all set ups for success. The moral here is Joseph seed time and harvest time was quite different, it wasn’t a smooth journey. Ordinarily, one would have cursed his siblings or his friends who were with him in prison and forgot him after they were released. But at the end of time, everything worked out for his favor. Joseph’s seed days were his dark days while in the wilderness.
Another inspiring story of note was that of Pastor Ibukun Awosika, the former board Chairman of First Bank of Nigeria. She once shared a pathetic story during her formative years of being in business. According to her, she sojourned for about 15 years. She cried because lines were not adding up for her and she wouldn’t do what her contemporaries were doing to get opportunities. At a point in her business, it appeared like she was in a race of own life because everything seemed to be against her, but at the appropriate time, lines began to fall in place for her. Appointments, business opportunities, favours and goodwill began to fall in place for her. Again, she had a fair share of seed time.
An interesting question I would like to ask you is, what’s your seed time? Have you ever been in the wilderness when you appeared to be fixed? It’s unfortunate many people are not willing to pass through the storms or experience seeds and harvest time. Amidst all these, one must do some work before they get opportunities. However, before such opportunities will come up, one will have to plant the seed.
In conclusion, seed time and harvest time is critical in the journey of life. Take a seat and determine what seed you would like to sow and what you’ll like to harvest.
Henry Ukazu writes from New York. He works with the New York City Department of Correction as the Legal Coordinator. He’s the founder of Gloemi. He’s a Transformative Human Capacity and Mindset coach. He is also a public speaker, youth advocate, creative writer and author of Design Your Destiny Design Your and Unleash Your Destiny . He can be reached via info@gloemi.com
By Eric Elezuo
The Senate has suspended Senator Natasha Akpoti-Uduaghen for six months over her sexual harassment accusation and other disputes against the Senate President, Godswill Akpabio.
The Senate also withdrew her salaries for the period of the suspension, as well as her security details.
The chamber however, soft-pedaled on the salaries and allowances of her aides, who it was argued would not have any source of livelihood within the period.
Globacom is welcoming new customers on its network with the introduction of the e-SIM. The e-SIM activated in any Gloworld shop or Dealer outlet comes with an introductory free 5GB data when the customer buys a data plan of N1,500 or more.
Customers already on other networks can now join the Glo network with e-SIM as an additional SIM. Existing Glo customers can also enjoy this “SIM-less” freedom.
With the e-SIM, customers no longer have to worry about space for a physical SIM on their phones. The e-SIM is a software-based digital chip built directly into smartphones or wearable devices, thus eliminating the need for a physical SIM card for customers.
The use of e-SIM enables customers to have seamless switching between phone numbers without a physical SIM. It is ideal for upwardly mobile people who travel frequently. The e-SIM also guarantees security, as unlike physical SIM, it is harder to remove from devices. It is also eco-friendly and reduces plastic waste.
Globacom’s launch of the e-SIM enables enables it to cater to high-net-worth individuals and enterprise customers, and it also reinforces the company’s commitment to providing seamless and future-ready services to its customers.
A customer seeking to activate the Glo e-SIM needs to check the compatibility of the mobile handset by dialling *#06# on his or her phone. If an EID number reflects on the mobile screen, the device is e-SIM compatible.
“The customer can then proceed to the nearest Gloworld shop or Glo Dealer outlet to migrate to e-SIM. The process takes only a few minutes and the customer can thereafter begin to enjoy the use of an e-SIM”, the Marketing Department disclosed.
