Thanks to the Berlin Conference, Africa, formerly one continent was sliced among three or four Europeans nations, marking the onset of the colonial period. It was a process of interaction between Africa and Europe, despite the fact that one party was absolutely advantaged. The formal and informal relationship between African and Europe lead to legacies, engineered the benefits of trade, lead to the slave trade, unfair deals, end of native Africa industries, trade, and shaped and destroyed Africa economy in one way or the other. Read on for the Changes in African economy after the post-colonial period:
Africa economy shifted towards manufacturing after the post-colonial era. Not much manufacturing occurred during the period as Africa focus was on primary production sourcing raw materials for colonial industries. Thus, it is not surprising that in 1960, only two countries: Southern Rhodesia (South Africa) and Belgian Congo manufacturing sector accounted for more than 10% of their Gross Domestic Product as European merchants supplied manufactured products to African countries. Nevertheless, the era provided skilled labor, machinery, and capital, which was lacking in Africa to engineer manufacturing sector.
The revival of the native African Industries that hold a greater role to solve the problems of economic development & growth in African countries. Native African industries were not encouraged by or cultivated by many colonizing powers. The imposition of colonialism thwarted the technological and industrial development brought by these industries during the pre-colonial era. It meant that Africans had little consumer goods; lead to the closure of the African industries, and reliance on imported goods from Europe. Many African countries are trying to revive and cultivate the native industries, which hold a key to creating plenty of job opportunities, manufacturing locally produced goods, and reduce overreliance of blue-collar jobs, which will and put Africa in a better economic position.
The concept of balanced trade between Europe and Africa after the post-colonial era has led to the development of new African markets and promoted entrepreneurship. Overreliance on imported products hindered entrepreneurship development and expansion of markets during the colonial times. However many African countries now control the supply and demand of key factors of production. They adjust them to fit the needs of their countries, entrepreneurship, and economic growth.
In conclusion, Africa reaps so much out of the colonial legacies. Even though colonialism did not set equal terms for Africans in trade and economics. Various African countries are collaborating with western powers to revamp their economy.
Works Cited: Trace.Tennessee.edu / Odi.org / Journals.openedition.org / Oxfordreference /
By Samson Ogaye
Africa Global News Publication
