Poverty in Africa

In comparison to other regions of the world, Africa is the land of the poor. According to the UNDP multidimensional poverty statistics, 46% of sub-Saharan Africa live below $1.9 per day while 43.4% live below the national poverty line. Like the compounding law of prosperity, poverty begets poverty. The poor appear to be constrained within […]

Compulsory Insurances: You can easily go to jail

The sight of drivers fighting on the road after an accidental collision is a common sight in Nigeria. But there should not be any fight if they are well informed. To start with, the Motor Vehicles (Third Party) Insurance Act of 1945, which took effect from 1st April 1950, makes it an offence for anybody […]

Entrepreneurial success beyond the State

In as much as the State ideally plays a significant role in the survival and growth of industries, the emergence and entrepreneurial success of groups that are into relatively homogenous economic activities without much of the support of government is possible. Factually, the government only plays a post-industry-take-off role involving the creation of level playing […]

Latent, potent forces against Africa’s prosperity in continental free trade (3)

Africa’s boundless treasure, Social development

ACCRA, THE CAPITAL OF GHANA, now houses the headquarters of the African Continental Free Trade Area (AfCFTA). In morally equivocal and ambivalent trade diplomacy, Ghana is currently officially trying to enjoy the best possible of two mutually exclusive worlds.  In one breath, it attempts to champion a continental trade area; in another, however, it perpetrates an […]

Latent, potent forces against Africa’s prosperity in continental free trade (2)

Africa’s boundless treasure, Social development

SUCCESS AND SUSTAINABILITY OF any trans-boundary trade arrangement will rest heavily on national and regional security. Good governance and peace within nations should therefore be important markers or indices for success in regional trade. Post-independence Africa, for the most part, has experienced pockets of hostilities, skirmishes, wars and sectarian crises at different times, sometimes spanning […]

Africa’s brand of entrepreneurship

Entrepreneurs do the same thing everywhere regardless of whether they are in Africa, in Europe or the United States. Their business is to make as much profit as is possible by optimizing other factors of production and their attendant risks. But these approaches to production organization and attitude to risk seem to underlie the differences […]

Towards Africa’s inclusive prosperity creation ecosystem

Progressive governments want every segment of their society to share in generated prosperity. They strive to increase the number of citizens migrating from a lower to a higher level of well-being. The faster the pace of these upward migrations, the better it is for society and economy. Unfortunately, that is not the case for the […]

“Insurance today and the future”

    (Singing) “We are better together, we are bigger together, we are stronger together, we are safer together, we are fuller together, we are richer together, we are greater together…” That was Olola Olabode Ogunlana, the doyen of insurance in Nigeria, singing a song he said boardroom guru, Michael Omolayole, used to sing for […]