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Analysis

 

Press Release

19 November 2015, London

Why Africa must embrace globalisation now - The Convergence of Nations by Jean-Claude Bastos de Morais, published by The OMFIF Press.

 

The Convergence of Nations

 

The book illuminates Africa’s opportunities and challenges, emphasising Africa's massive potential for profiting from globalisation.

Africa must embrace globalisation and use the opportunities of cross-border flows of capital, ideas and technology to take rapid strides in realising its potential in areas ranging from energy and mining to agriculture, capital markets, infrastructure, manufacturing and public services. These are among the conclusions of The Convergence of Nations by Jean-Claude Bastos de Morais, published by OMFIF Press, a broad account written with a team of 31 authors from 15 nations of the way Africa can benefit from changes in the world political and economic environment.

Although it ranges, too, across a series of challenges including corruption, disease and terrorist conflicts, the book highlights the ‘demographic dividend’ from Africa’s young, dynamic and increasingly well-educated population, contributing to more openness and democracy and better-run governments. It sets down new precepts for ‘African capitalism’: open to global investment, establishing its own economic practices based on best international ideas, and generating inclusive growth that genuinely benefits African societies.

In the foreword, Akinwumi Adesina, president of the African Development Bank, writes ‘As always, Africa must aim high. This time we can and we will achieve our aims. This expertly written book will heighten international understanding of and interest in our continent. This is a compellingly realistic summary of all the big themes affecting Africa’s future, and I warmly commend it.’

The book sets down precepts for extending renewable energy, curbing Ebola, modernising plantations, fighting wildlife poachers and building industrial parks. It delves into the lives of private equity entrepreneurs and unnecessary deaths of low-paid workers deprived of health services. It includes developments in culture, the arts and creative industries, describing the fluctuating styles of Accra and South African House music, the diverse faces of Kenyan fashion, and the flamboyance of Nigeria’s Nollywood films.

Shivani Shah, a Kenyan pharmacist and amateur artist, has contributed the cover design for The Convergence of Nations, having won OMFIF’s Africa-wide competition for an original work of art. In the artist’s own words: ‘The use of red symbolises man’s most primitive instincts of self-preservation; gold and silver evoke the tremendous wealth found throughout Africa; and the 3-D effect of the wires shows the increasing importance of the internet and mobile technology.’

A discussion on Africa’s future will take place on 10 December in London followed by a reception to mark the launch of the book. To attend the launch please click here to register, or contact Nikki Macmillan at nikki.macmillan@omfif.org, or call +44 (0)20 3008 5205.

The book is available to pre-order online by clicking here, and will be available at selected retailers, including Amazon. For further information, please contact publishing@omfif.org.

 

 

 

 

Notes:

Jean-Claude Bastos de Morais is founder of the Quantum Global Group and the Africa Innovation Foundation. For enquiries relating to Jean-Claude Bastos De Morais, please contact Mark Morley, Group Head of Communications at Quantum Global at mark.morley@quantumglobal.ch.

OMFIF Press is the publishing arm of the Official Monetary and Financial Institutions Forum, an independent platform for international financial dialogue and research.

All developments regarding OMFIF can be followed at www.omfif.org and www.twitter.com/OMFIF.