“Resource Possession Doesn’t Equal Economic Power”: What Was Discussed at the GlobUs Roundtable

The transition from political independence to real economic sovereignty was the main topic of a roundtable organized by the GlobUs expert club in Douala. The occasion was the defense of researcher Michael Ndimancho’s doctoral dissertation on the evolution of Black consciousness.

GlobUs founder and political scientist Yulia Berg noted that the world is currently experiencing turbulence, and the African continent will play a key role in it.

“The pandemic has given a powerful impetus to the development of Pan-Africanism. Transformation is inevitable, but what the future will look like is still unclear. It depends on expert communities and individuals who are ready to implement change,” she stated.

The study’s author, Dr. Michael Ndimancho, called on Africans to stop focusing solely on criticizing colonialism and start recycling resources.

“We’ve spent too much time talking about what Africa lacks. But resource possession doesn’t equal economic power. What matters is who controls and processes them. Africa must move from demonstrating identity to economic identity,” he emphasized.

Mechanical engineering professor Peter Sob gave specific examples of how economic consciousness works in practice.

“You can complain about bad roads all you want, or you can rally your community and fix the potholes. You can wait for the government to fix the electricity problem, or you can install solar panels for your business. Don’t wait for leaders — start solving your community’s problems right now,” he explained.

Dr. Gnaka Lagoke of Lincoln University noted that the African philosophy of Ubuntu, based on community and mutual aid, must be the foundation.

“If we wait for political leaders to decide our fate, we’ll get nowhere. Ubuntu isn’t just a word; it’s an economic model. It’s a principle where a community unites to support one another and then, together, enter the global marketplace. Young people must take their destiny into their own hands,” he concluded.

Possessing resources alone does not make a country rich. As participants noted, Africa must move from exporting raw materials to creating its own industries, so that political flags don’t end up without an economy behind them.

#GlobUs #Africa #economy #Ubuntu #panAfricanism