Building Africa's Economy Needs Citizens Who Turn Learning Into Impact – Ogunweide

Leonard Ogunweide, a renowned governance expert and founder of the Face of Liberty International, said that building an economic system that works for all in Africa will require citizens who are willing to turn classroom learning into community impact.

Speaking at the maiden edition of the Free Markets Fellowship, organized by the Face of Liberty International on Monday, Ogunweide said Africa’s development would require citizens who could transform ideas, skills, knowledge and available resources into productive value.

He argued that the continent’s large youth population and abundance of natural resources would not automatically translate into prosperity without individual freedom, effective institutions, entrepreneurship and responsible leadership.

He urged young Africans to take greater responsibility for solving developmental problems bedeviling their nations instead of depending solely on governments and political institutions.

Furthermore, he stated that prosperity could emerge only when people operated within an environment that enabled them to build businesses, exercise property rights and take responsibility for improving their lives.

Mr Ogunweide also challenged the assumption that governments should provide every solution to the problems confronting citizens, saying governments had important responsibilities but were limited in their capacity to manage every aspect of social and economic life.

He therefore said graduates from tertiary institutions need to recognise the role they could play in advancing development within their communities. It is easy to complain about what is wrong, he noted, but harder to organise people around a solution; it is easy to criticise institutions, but difficult to build better ones.

In recent times, many economic experts including civil society organizations (CSOs) are calling for the adoption of a free market economy for businesses and human flourishing.

The system, which relies on supply and demand in lieu of government control to set prices and dictate production, promotes open competition and voluntary exchange to drive the distribution of goods and services.

Analysts champion this model, that it could help break down monopolies and foster economic freedom. Ogunweide opined that open markets can empower local entrepreneurs and reduce political corruption.

Ultimately, these groups believe economic liberty drives self-reliance and curbs poverty. By removing bureaucratic red tape, they aim to create a level playing field for marginalized communities.