Between Africa’s super- rich and multi- dimensional poverty
ARECENT report by Oxfam indicates that seven of Africa’s richest individuals control more wealth than the poorest half of the continent’s population which constitutes an estimated 700 million people. What the report underscores is that despite the abundance of natural resources being exploited by the world’s biggest corporations in collaboration with privileged indigenous business elites, most of Africa’s population remains in poverty. This manifests in forms of declining access to household income, qualitative education and other essential social services.
The contradictions underpinning the reality of widespread poverty in Africa and the quantum of wealth controlled by a handful of individuals speaks to the depth of governance failure that has become a dominant feature of a continent with arguably the world’s richest natural resources. The prevailing wealth inequality in Africa is not only lamentable but calls for urgent commitment to reversing the ugly trend that showcases few individuals as stupendously wealthy amid gripping socio- economic deprivation of a large proportion of the population in excess of three- quarter of a billion people.
The grim reality of Oxfam’s alert on the appalling wealth inequality in Africa should therefore be properly situated within the context of the combined forces of exploitation. On the first note, leadership ineptitude for over six decades after attainment of political independence bred retinue of political elite lacking in the patriotic passion required to drive pro- people governance based on nationalist agenda beyond quest for personal aggrandizement. Leadership deficit also accounts for lack of foresight to effectively manage transitions of African countries from predominantly agrarian society to extractive economy which promote undue appetite for primitive accumulation by the political class; and exploitation by their collaborators in the business sector.
Thus, the failings of political elites across Africa, over the decades, exposed the vast natural resources to unbridled exploitation through systemic connivance with corporate entities. Most post- independence African leaders saw wealth accumulation as the basis for political participation which unfortunately exacerbated the inordinate struggle for power. Wealth accumulation as the only attraction for politics and power retention has proven to be counterproductive and inimical for stable society as evidenced in post- independence history of African countries. Disproportionate wealth distribution has, for too long a period, consigned a larger section of the population to the lowest rung of the ladder where their voices are rarely heard as critical stakeholders in the society and whose livelihoods are negatively impacted by policies and actions of government. The exclusion of critical stakeholders has, for decades, been exploited as a tool for political subjugation through which few elites connive with individuals and corporate groups to undermine policies and standards of corporate governance. The combination of misadventure policies and weak corporate governance framework makes the poor get poorer and deeper in the mire of poverty while the rich get richer.
The overarching import of lopsided wealth distribution is that, over time, few privileged people continue to be in control of the wealth of the continent to the disadvantage of the overwhelming majority. The huge disparity in wealth between a clique of few super rich and an overwhelming population of the poor in the society is dangerous and poses dire consequences for peace, security and stability in the future.
Unfortunately, culture of corruption and impunity appears to have taken firmer root across the continent thus serving as a trigger for abysmal wealth distribution. The conundrum of corruption and impunity must be decisively exorcised in response to the worrisome disparity in wealth distribution between the overwhelming povertystricken population and the tiny class of oligarchs who superintend governance and the economy. It is no longer tenable to insist that African countries cannot muster the political will to determine their fate in the face of emerging global economic realities where nations are expected to align forces to fairly compete and leverage on comparative advantage for mutual economic prosperity as opposed to decades of subjugation. The continued scramble for the wealth of Africa by the global north offers opportunities for a new thinking for translating the enormous potentials to prosperity for the marginalised population. The 21st century is not an era to continue in the path of lamentations but to take decisive steps to overcome the drawbacks of colonisation and the prevailing neocolonial economic agenda. African leaders and the privileged elite must realise that the continent is not immune to uprising if the yawning gaps between the rich and the poor continue unabated. To this extent, reversing the trend of pervasive multi- dimensional poverty requires time- bond; goal- oriented agenda that will make governance respond to the quest for wealth redistribution through pro- poor policies that make accountable and corporate responsibility mandatory and likely breaches actionable.
The prevailing character of politics through which corruption is elevated over and above accountable governance will remain an impediment unless there is change of narrative. There must be a change in orientation in African society where looters of the commonwealth are celebrated rather than being held to account. Equitable wealth distribution in Africa will remain an illusion if public officers, particularly the elected, continue to exhibit inexplicable wealth in apparent competition with oligarchs who thrive under a system that makes them richer than their countries. Corrupt system that militates against equitable wealth distribution must be dismantled to pave the way for a pro- people system driven by accountability and transparency. The acceptance of inexplicable wealth as a standard in the society breeds social vices that portends danger for the society and threatens the survival of the polity.
Therefore, the tendencies for the privileged few to amass wealth to the disadvantage of the majority should not only be seen from the context of failure of leadership but also as an issue of shared responsibility by the society. Africa urgently needs robust civil society platforms to consistently demand accountability as a check against the continuation of a system that skews available resources in favour of a handful of wealthy individuals to the exclusion of the generality of the citizenry.