The GDP ranking of the richest countries in 2021, made by the IMF (International Monetary Fund), ranks Nigeria as the richest African country, with a GDP of 467 billion dollars in 2021. The Nigerian giant is followed by the ‘South Africa and Egypt. Algeria, Morocco, Kenya, Ethiopia, Kenya, Tanzania, Ghana, are all mixed up in the top 10 of the most economically powerful countries in our continent.
Columnist Jules Domche noticed that the private sector is very strong in almost all of these countries and is supported by the public authorities.
In addition, in these countries there are large businessmen who have privileged relations with their heads of state who support and consult them.
Examples include Aliko Dangoté (Nigeria), Nassef Sawiris (Egypt), Nicky Oppenheimer (South Africa), Issad Rebrab (Algeria), Aziz Akhannouch (Morocco), Mohammed Dewji (Tanzania), all in the top twenty richest Africa, according to Forbes magazine.
In Guinea, President Condé, a few years ago, was seduced by the idea of creating a strong private sector with champions like locomotives. Clearly, each activity had to have a leader.
Over the years, this oh so majestic idea has remained caulked at the embryonic stage. Instead of organizing the private sector, a quasi smothering campaign was set in motion and the machine well oiled.
Beyond public relations operations, nothing. Except the non-payment of invoices which, more often than not, are regularly established. The companies are suffocated and the “champions” with it. And yet economists are unanimous on one fact: “it is local businesses that create jobs and growth. “
By Ibrahima S. Traoré for guinee7.com