4.4 • 796 Ratings
🗓️ 31 May 2023
⏱️ 19 minutes
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Nigeria's most well-known economist Tony Elumelu tells us why Africa needs to rethink it's relationship with business.
He explains "Africapitalism", the idea that the private sector can transform Africa's economy and society for the better.
He also discusses a number problems slowing economic growth in Africa, including young, well-educated people leaving for better opportunities elsewhere and a lack of investment in the tech sector.
Presenter / producer: Peter MacJob (Image: Tony Elumelu: Credit: Getty Images)
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| 0:00.0 | In 2011, the Fukushima nuclear power plant on the east coast of Japan was struck by a tsunami. |
| 0:07.5 | It triggered the world's worst nuclear disaster since Chernobyl. |
| 0:11.3 | We are in a nuclear emergency. |
| 0:14.0 | Fukushima, a new audio drama series from the BBC World Service, tells the story of how the disaster unfolded and of those living with its aftermath. |
| 0:23.2 | The radiation is here. |
| 0:24.7 | It's everywhere. |
| 0:25.9 | Search for Fukushima wherever you get your BBC podcasts. |
| 0:31.4 | Hello and welcome to Business Daily on the BBC World Service. |
| 0:35.4 | I'm Peter McJow. |
| 0:37.1 | Today we are rethinking the role of business in Africa. |
| 0:40.6 | Welcome to the era of Africa capitalism, |
| 0:44.1 | an economic philosophy which calls on Africa's private sector |
| 0:47.2 | to transform the fortunes of the continent through long-term investments. |
| 0:51.9 | Nigeria's foremost economist, Tony Eloumelu, is the man leading the |
| 0:56.3 | charge. I believe that no one but also develop Africa. I believe that the privacy |
| 1:01.0 | has a route to play in the development of our continent. I believe that government is critical, |
| 1:08.0 | but more importantly, the private sector should lead in the area of development. |
| 1:12.1 | An idealistic proposition described as Africa's pathway to economic prosperity and social wealth. |
| 1:18.2 | But what does that look like in real terms? |
| 1:20.6 | It is that intersection of government, public sector coming together to develop Africa |
| 1:26.7 | in a manner that is sustainable, in a manner |
| 1:28.9 | that creates prosperity for business investors. But more importantly, it creates job and |
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