LAGOS, Nigeria — The African continent, home to 1.4 billion of the world’s youngest and most dynamic people, is a land brimming with untapped potential and vast economic opportunities. Yet, despite this promising demographic advantage, the African organized private sector finds itself in a constant struggle for survival, grappling with an operating environment that seems determined to stifle its growth and success. In a recent post on the X platform, investigative journalist David Hundeyin delivered a scathing critique of the forces that he argues are deliberately sabotaging the continent’s private sector and issued a clarion call for a radical rethinking of how African businesses approach their role in shaping the continent’s future.
Explore David Hundeyin’s urgent call for the African private sector to reclaim its narrative from external influences. This critical analysis examines the challenges of foreign-controlled think tanks, media, and policy institutes, urging African businesses to invest in their own growth and secure the continent’s economic future.
In this critical report, we will explore Hundeyin’s argument, dissect the underlying factors contributing to the private sector’s challenges, and examine the implications of his call for African businesses to take control of their destiny. This analysis will also delve into the role of think tanks, policy research institutes, civil society organisations, and media in shaping Africa’s economic landscape, questioning whether the continent’s private sector can truly thrive under the current conditions.
The Unseen Hand: External Influence on Africa’s Economic Policy
David Hundeyin’s assertion that nearly all of Africa’s think tanks, policy research institutes, civil society organizations, and media are owned, funded, directed, or controlled by external actors is both bold and provocative. According to Hundeyin, these external forces are not merely disinterested observers; they are actively working to undermine the growth and success of Africa’s private sector. The reason? African businesses’ potential to become powerful, independent economic players poses a threat to the interests of those who have long benefited from the continent’s underdevelopment.
This external influence, Hundeyin argues, manifests in various ways. For example, think tanks and policy research institutes often push for policies that may not align with Africa’s long-term economic interests. These recommendations, frequently supported by foreign funding, can result in policy decisions that prioritise the needs of external stakeholders over the well-being of African businesses and the broader population. The push for energy transitions in a continent that contributes only 3.9% of global emissions is one such policy that, while noble in intention, could have devastating consequences for Africa’s economic growth if not carefully managed.
Moreover, Hundeyin points out that civil society organisations, many of which are also funded by external actors, often focus on issues that, while important, may not be the most pressing for the continent. The emphasis on LGBTQ rights, for example, is critical for ensuring human rights and equality but might not address the immediate concerns of a continent facing high levels of poverty, unemployment, and underdevelopment. Meanwhile, the media, controlled by these same external forces, plays a crucial role in shaping public opinion and can influence the market dynamics in ways that are not always beneficial to local businesses.
The Private Sector’s Dilemma: A Call for Strategic Investment
At the heart of Hundeyin’s message is a challenge to the African organized private sector: if you want to succeed, you must take control of your own narrative and invest in the institutions that shape public policy and opinion. This is not just about philanthropy or corporate social responsibility; it is a strategic investment in the future of the continent’s economy.
Hundeyin acknowledges that investing in think tanks, policy research institutes, civil society organisations, and media is not likely to yield immediate financial returns. These are long-term investments that may not turn a direct profit but are crucial for creating a conducive environment for business growth. By funding these institutions, African businesses can ensure that the policies and narratives being promoted are aligned with their interests and the broader goals of the continent’s development.
However, this is easier said than done. The African private sector is often fragmented, with businesses focusing on their immediate survival rather than long-term strategic investments. The idea of pooling resources to fund institutions that do not provide immediate returns may seem counterintuitive, especially in an environment where businesses are already struggling to stay afloat. Yet, Hundeyin argues that this is precisely what is needed to break the cycle of underdevelopment and dependency on external actors.
The Power of Narrative: Media as a Tool for Economic Growth
One of the most compelling aspects of Hundeyin’s argument is his emphasis on the role of media in shaping the economic landscape. In a world where information is power, the media has the ability to influence public opinion, shape consumer behaviour, and impact market dynamics. Hundeyin suggests that African businesses are currently at the mercy of a media landscape that is heavily influenced by external actors, who may not have the continent’s best interests at heart.
This media influence is not just about the stories that are told but also about the stories that are not told. Hundeyin points out that misinformation and disinformation are being “drip-fed” to Africa’s 1.4 billion consumers, creating a distorted view of reality that can hinder business growth. For example, the narrative around Africa’s energy transition is often framed in a way that overlooks the continent’s unique needs and challenges, instead pushing for solutions that may not be sustainable or beneficial in the long run.
To counter this, Hundeyin calls on African businesses to invest in media outlets that are committed to telling the continent’s story from an African perspective. This means supporting journalists, news organisations, and content creators who are focused on promoting narratives that align with the continent’s development goals. By doing so, African businesses can help shape a media landscape that supports their growth and success, rather than undermining it.
The Risk of Inaction: The Consequences of Continued Dependency
Hundeyin’s warning is clear: if African businesses fail to take control of their own narrative and invest in the institutions that shape public policy and opinion, they will remain at the mercy of external actors who do not have their best interests at heart. The consequences of continued dependency on foreign-funded institutions could be dire, leading to a situation where African businesses are unable to compete on a global scale and are perpetually stuck in a cycle of underdevelopment.
The risk of inaction is particularly acute in the context of Africa’s rapidly growing population. With a market of 1.4 billion people, Africa has the potential to become a global economic powerhouse. However, this potential will only be realized if the continent’s private sector is able to operate in an environment that supports growth and innovation. If external actors continue to control the narrative and influence policy decisions, African businesses may find themselves unable to capitalize on the opportunities presented by this burgeoning market.
Moreover, the failure to invest in local institutions could result in a brain drain, where the continent’s brightest minds are forced to seek opportunities elsewhere due to a lack of support and investment at home. This would not only undermine Africa’s economic potential but also exacerbate social and political challenges, leading to increased instability and conflict.
A Blueprint for Action: Building an Independent African Private Sector
In response to Hundeyin’s call to arms, it is clear that African businesses must take decisive action to secure their future. This requires a concerted effort to build and support local institutions that can operate independently of external influence. While this may seem like a daunting task, it is not impossible. There are several steps that the African organized private sector can take to begin this process:
Pooling Resources: African businesses, particularly those operating in the same industry or sector, should consider pooling their resources to fund think tanks, policy research institutes, civil society organisations, and media outlets. By working together, they can achieve economies of scale and ensure that these institutions are adequately funded to carry out their work.
Focusing on Long-Term Impact: Businesses must recognize that investing in these institutions is a long-term strategy that may not yield immediate returns. However, by building a strong foundation for future growth, they can create an environment that supports innovation, competitiveness, and economic success.
Promoting Local Talent: To reduce dependency on external actors, African businesses should prioritise the development of local talent. This includes supporting education and training programmes that equip the next generation of African leaders with the skills and knowledge needed to succeed in a global economy.
Creating a Unified Voice: The African private sector must work to create a unified voice that can advocate for policies and initiatives that support their interests. This requires collaboration across industries and sectors, as well as a commitment to putting the continent’s long-term development goals above short-term profits.
Engaging with Policymakers: African businesses must engage with policymakers to ensure that their interests are represented in the decision-making process. This includes participating in public consultations, providing input on policy proposals, and advocating for reforms that support economic growth and development.
Investing in Media: As Hundeyin points out, the media plays a crucial role in shaping public opinion and influencing market dynamics. African businesses should consider investing in media outlets that are committed to telling the continent’s story from an African perspective. This includes supporting investigative journalism, promoting local content creators, and ensuring that diverse voices are represented in the media landscape.
Conclusion: The Future of Africa’s Private Sector
David Hundeyin’s post on the X platform is a wake-up call for the African organised private sector. It highlights the urgent need for African businesses to take control of their own narrative and invest in the institutions that shape public policy and opinion. While the challenges are significant, the potential rewards are even greater.
If African businesses can come together and build a strong, independent private sector, they have the opportunity to transform the continent into a global economic powerhouse. This requires a commitment to long-term investment, collaboration, and a focus on the continent’s unique needs and challenges.
The future of Africa’s private sector is in its own hands. The question is, will it rise to the challenge, or will it remain
at the mercy of external forces? The answer will determine not only the fate of the continent’s businesses but also the future of its 1.4 billion people.