Ayo Akinfe
(1) Given the desperate need for African nations to break free of the cycle of dependency, the World Trade Organisation (WTO) should reach an immediate agreement baring the export of raw commodities from Africa. Every exported product from the African continent must have at least 50% value addition
(2) The WTO must agree laws making it illegal to export wholly-finished manufactured goods like automobiles, train carriages, aircraft, ships, boats, battle tanks, etc to Africa. At the very least, assembly should take place on the continent
(3) We need WTO laws barring pharmaceutical companies that do not have a presence in Africa from exporting their drugs to the continent. It is morally repugnant to sell drugs to 1.3m people, using their own medicinal plants, yet you do not have a manufacturing facility on the continent
(4) Africa accounts for 16% of the world’s population, so it is only fair that she attracts at least 15% of global capital investment. Industrialised nations must be set a target of ploughing at least 15% of their investments into Africa. Companies that do so should get tax rebates from their governments
(5) It should be illegal for a manufacturing facility to be located outside Africa if the continent accounts for up to 50% of the production of the raw material. For instance, Africa accounts for 80% of global cocoa production, so 80% of the world’s chocolate manufacture capacity should be located on our continent
(6) Every single supply contract between a multinational company and an African nation should come with a caveat that the corporation will open a manufacturing facility on the continent within two years as part of the deal
(7) Companies that commit in excess of $1bn of foreign direct investment into Africa annually should be exempt from tariffs in the US, China and European Union. Companies that invest in excess of $5bn annually will get a worldwide exemption from any trade tariffs
(8) At least 10% of all pilgrimage revenue generated in Saudi Arabia, Israel and Italy must go into a Global Religious Fund used for investment in poor countries. Godliness should be about uplifting the poor and helping the less privileged
(9) Any automobile company that is ceasing the production of a vehicle model, should have to hand over the patents and rights of the car to the African Union so local production can commence
(10) Any multinational company that trains in excess of 5,000 Africans a year in manufacturing should get a 50% tax rebate in its home country and global trade tariff exemptions
