Africa Awaits Promised Renaissance

Africa Awaits Promised Renaissance

On the eastern bank of the river Congo lies Kinshasa, Africa’s third largest capital city after Cairo and Lagos. Kinshasa had long been billed as one of the top cities that would lead Africa’s renaissance, which now appears even more out of reach than before due to massive debts and over-reliance on outside factors.

At the beginning of the century, Congo embodied the dreams that were pinned on Africa, which appeared to be putting behind its bloody conflicts.

Economic growth started to top 5 percent annually and raw material was available to meet growing markets in China, Türkiye, India and Brazil. Foreign investments funded infrastructure and productive sectors.

Major regional forces, such as Nigeria, South Africa, the Democratic Republic of Congo, and the Arab Maghreb, were leading Africa towards unprecedented heights.

However, the optimism was hampered by rampant poverty, the eruption of new armed conflicts, climate change and the coronavirus pandemic. The war on Ukraine was another factor that showed the extent Africa can be impacted by outside elements in spite of the continent’s massive resources and wealth.

President of The Association for Research and Cooperation in Support of Endogenous Development (ARCADE), Demba Dembele said only a handful of businessmen benefited from the economic growth