I’d like tell the African Diaspora that the window of opportunity for getting rich in Africa from corruption and collusion is closing and moving upward.
This means you’d have to work 10 times harder to get what you want.
In a capitalistic society, becoming rich depends so much on the ability to make above market profit, access insider deals, or benefit from monopolistic/exclusive position granted by political power.
Prosperity is faster in non-regulated markets, in situations of chaos, in environment with quick fast, deals, when governments and judges are weak and easily corruptible.
A majority of wealth made on the continent is from shady deals, from corruption, illicit activities, etc. Ask Dangote.
However, slowly markets are getting more regulated, safety rules are been set, corruption moving to higher suburbs, and above markets profits only possible with multi-million dollars deals.
If you are in the Diaspora waiting to come back to Africa only when Africa would be like Europe or America, well your chance to accumulate wealth would be close to zero. All lands would be bought, most positions locked, society highly stratified.
In capitalistic societies, it takes relationship to have money. Relationship comes from trust. Trust is fostered by trade and constant physical meetings.
The future African oligarchs are already building their own cities, suburbs, clubs, accesses. Like in Europe and America, wealth would soon be 70% hereditary. And the 30% sweatshirt riches would be those the wealthy would bless with venture capital.
The great families of European renaissance are still holding the most power and wealth in Europe after 5 centuries.
Africa is going through its renaissance period.
If you don’t want to be left out of Africa future, and end up with 30 years mortgage to have only a small apartment to live in, in Lagos, Nairobi, Accra, Lomé, please do yourself a favor, start investing in Africa. Keep in touch with movers and shakers here. Don’t be too negative about what is going in Africa. Lot of great things are going on here. Don’t be too negative about Africa. You’d regret your cleverness and intellectualism, and your children would pay the price.