The struggle against neo-colonization has not fully yielded national independence in terms of the economy. Africa tries to find its way out- as Nkrumah noted in his profound speech in Addis Ababa, “Our people supported us in our fight for independence because they believed that Africa’s government could cure the ills of the past in a way which could never be accomplished under colonial rule. If therefore, now that we are independent, we allow the same conditions to exist that existed in colonial days, all the resentment which overthrew colonialism will be mobilized against us”.
Neo-colonialism is defined as the continuation of the economic model of colonialism after a colonized territory has achieved formal political independence.
It has been established that out of about 7 continents, Africa has approximately 30% of the earth’s remaining mineral resources. Pardon me, as I single out Ghana for particular emphasis.
*Ghana is Africa’s largest producer of gold
*Has found deposit of oil
*Second largest producer of cocoa
*Has bauxite, timber, diamond, natural gas, fertile soil and fresh water
WHAT ELSE NEEDS TO BE BESTOWED ON THIS COUNTRY!
But then in the phase of neo-colonialism and imperialism which is fueled by greed, lack of accountability, corruption and ignorance the nation is still crawling in the race for development; Given that very few people own and control these resources for their benefit.
Nonetheless, you might be pondering about how economic instability emerged in the period of neo-colonization in as much as Africa has grasp liberation. According to an article I read online; after independence, the main revenue base for African countries continues to be the export of raw materials, this has resulted in the underdevelopment of African economies while Western industries thrive.
A classic example of this process is the extractive industry, where minerals exported could not serve to develop the African economy because minerals taken from the continent by giant Multinational Corporation are processed and sold back as manufactured goods to African consumers.
Another scenario is foreign aid. I must say due to unavailability of social amenities and financial crisis, it’s elusive for some African countries to desist from enlisting on foreign aid. Which comes in the form of loans bearing high interest rate. The repayment of these loans contribute to the underdevelopment of our continent owing to the fact that the collection of interest is more than the loan taken.
Neo-colonialism walks freely in our mist. We are the sole catalyst of it development while we rant and hope the economies of our continent will be stable.
Why not purchase products made in our continent, we sometimes make emphasis on it quality which in some cases might be true. To our manufacturers, take such views into consideration and give us quality for our money.
To illegal miners in our region, refrain from condoning and conniving with external forces in the destruction of our fertile soil and fresh water bodies.