The rich will rule over the poor: Some Lessons from Privatization in Gambia By Dr. Mwelwa – A rejoinder
By even encouraging foreign enterpreneurs with foreign shareholders, you avoid the chances of sabotage since they can't work against their own interests.
I refer to the Facebook article above regarding Zambia’s Kenneth Kaunda’s efforts at controlling the exploitation of Zambia’s mineral resources to his country’s advantage and how Africa’s perenial foreign enemies undermined his efforts, just as they still do today.
I think one mistake was the SOEs. We have learned since African countries independence experiences that politicians cannot be trusted with business enterprises. Indeed it is the same in advanced countries. So what is the way out for profiting nationally from a nation’s natural resources? I believe the primary answer is VALUE ADDITION(VA).
Let private enterprises get involved with the STRICT CRITERIA of VA. With VA and exporting only finished products, factories are built in the country to process the different raw materials thus creating several different types of employment and associated tax revenues for that one resource alone. In this case it doesn’t matter where the company comes from.
In fact by even encouraging foreign enterpreneurs with foreign shareholders, you avoid the chances of sabotage since they can’t work against their own interests.
Indeed by adopting this VA participation criteria STRICTLY across board, the country may even have to import workers to meet its labour needs.
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Bobby Quaquoo is a Freelance Journalist and an African in the Diaspora.
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