Despite possessing some of the world’s richest mineral and natural resource endowments, Africa remains the poorest continent by many development indicators. This enduring paradox reflects deep structural imbalances rooted in historical legacies that, in various forms, continue to shape the continent’s economic relationships and development trajectory. The question, which comes to mind often, remains: Can Africa change its lot?

African economies operate within legacy structures and strategies inherited from the colonial era, later reinforced by post–Second World War multilateral institutional frameworks, the cold war bipolar ideological world, and the now failing liberal pseudo-democratic world. Even the emerging multipolar world appears to be treating the continent not much different from the bygone eras before it. These systems have often positioned the continent primarily as a supplier of raw materials to global markets, limiting value addition and industrial diversification within the continent.

Throughout history, development of every economy has transitioned from poverty to prosperity through industrialization and there is no reason why Africa should remain a primary raw material supplier to the rest of the industrialized world. Africa does not even produce enough of its food when it has the largest arable land, the largest water resources and a growing youthful population that will soon be, perhaps a significantly large segment of the world’s........

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