By Charles N Lambert
The Black Wall Street has unleashed two programs to redefine African commerce from the colonial past. This is to further the Economic War to set Africa free from European invaders who structured African trade to suit their selfish interests.
Colonialism had a huge impact on the lives of Africans. Economic policies were adopted by Europeans who destroyed the colonies, rather than help them. Africa was damaged economically, politically, and culturally.
Africa’s traditional lifestyles and culture were destroyed. The Europeans had no interest in traditional African culture and had no concern for the Africans. There were several negative effects of colonialism that became evident after many African nations became independent.
The economic structure of African society was changed by European invaders. Cash crops were introduced to meet the industrial needs of European countries. Cocoa, coffee, tea, and cotton were the main cash crops produced on a large scale. Several minerals were mined extensively.
The problem with this was that cash crops were focused on instead of food for basic needs, compassionate capitalism was ignored, leading to famine among many Africans. Europeans changed the economy from a model of producing foods for needy to mainly the production of cash crops. All crops produced by Africans were exported and prices were set by the colonies.
Africans were not allowed to grow these cash crops to benefit themselves. Trade was prohibited between Africans, so they were forced to export all cash crops produced and minerals mined.
European colonial powers did not plan to industrialize or modernize Africa. Africans were used to solely produce raw materials, export them to Europe, and then re-export them to Africa as final products, sold at high prices and Africans could not afford to pay for these products.
Away from that, With the current outlook for 2020, the economy is rapidly declining due to the coronavirus pandemic which has ravaged many countries and at this moment only continents with strong commerce structures can survive the economic breakdown caused by the virus.
Millions of people have already lost their jobs and are looking for other alternatives to survive.
The unemployment rate, which sank to nearly 50-year lows, is expected to soar into double digits.
The Black Wall Street (BWS), led by Charles N Lambert, economic activist and Leader of Africa’s first economic war unleashed the two programs to redefine African commerce, make the movement of goods and money possible within Africa, create more job opportunities, aid the growth of businesses and boost Africa’s economy.
Charles explains that Africa is the only continent in the world that trades more with outsiders than itself. This is because Africa’s trade structures were designed by foreign invaders, as stated earlier in this article.
Business owners in Africa boast of imported products, including toothpicks from China, toilet paper and milk from Holland, sugar from France, chocolates from Switzerland, and matchboxes from Sweden.
Yet many of these products are produced much closer—in Ghana, Morocco, Nigeria, South Africa, Uganda, and other African countries with an industrial base.
So why do retailers source them halfway around the world? The answer: inefficient trade structures, a patchwork of trade regulations, and tariffs that make intra-African commerce costly, time-wasting, and cumbersome.
Worried by these trade structures that have failed Africa, the Black Wall Street took it upon itself to set up Africa’s first true trade structures that connect its commerce in the movement of goods and money.
These trade structures have been divided into two, which are Payment facilitator and Fulfillment facilitator.
These programs are meant to grow local businesses, boost inter-African trade, rev up industrialization, and create jobs within Africa.
Payment facilitators are people in 600 locations across Africa, these people will aid the movement of money through the Development Channel App. As we all know, in Africa, there’s no reliable structure in place where one can move money from West Africa to North Africa, thereby making trade among African nations impossible.
The Black Wall Street believes that a country’s economic growth is not generated by the government, it is generated by the people of a country through the final goods and services bought by the final user, produced in the country, in a given period of time. This generates wealth through the accumulation of profitable balances.
For this reason, Black Wall Street developed the two programs infused into the Development Channel App to make the movement of money and goods easier in Africa by Africans.
Development Channel App, according to Charles Lambert will help bridge the development divide between developed and underdeveloped countries through the use of 25 empathy-driven companies covering the creation of the strong middle class, food security, and strong infrastructure among the world’s most disadvantaged.
When Africans import and export goods within the continent using the Development Channel App to facilitate payments, it works faster and easier, this saves the continent a lot of money being spent on capital fights.
Capital flight is a major problem in Africa as it impacts negatively on capital scarce economies.
Trillions of dollars have flown out of Africa over the last four decades. Capital flight has accelerated since 2000, a period that coincides with the commodity-driven growth resurgence in Africa.
Evidence suggests that capital flight has significantly undermined Africa’s growth and development – through the siphoning of potential investment capital out of the continent.
Capital flight is a global problem requiring a global solution. However, Africa, as a major source of capital flight, needs to speak with a unified voice on this issue and to spearhead the fight against capital flight, including the tracing and recovery of these ‘stolen’ assets. This is why Black Wall Street is leading the fight to save Africa from losing more millions.
Now, the payment facilitators are individuals who will stand as financial industry to facilitate payments related to e-commerce on behalf of numerous businesses across Africa through the Black Wall street Platform.
The facilitators are seen as the wheels of the economic war led by Charles N Lambert.
Across Africa, there has historically been a heavy reliance on cash, with around 95 percent of retail transactions taking place in cash. Global and local organizations are investing in innovative digital payment systems and new disruptive payment tools to displace cash while delivering new levels of inclusion to the benefit of consumers, businesses, and governments. One of the leading technology to help fight the displacement of cash transactions in Africa is the payment facilitators through the Development Channel App.
Although many people in Africa now have a mobile phone and laptops, some say they don’t trust the technology. They fear that if the device is stolen, their money will be too, so they prefer to handle all transactions in person which has left Africa far behind global development.
Charles explains that the payment facilitators will have a critical role to play in the Economic War by making payments to different people on behalf of Black Wall Street through the Development Channel App. This is because the Economic War will be dealing with millions of Africans on a daily basis.
BWS has also set up 600 virtual branches across Africa, each of these virtual branches has 10 payment facilitators assigned to work with and about 1,000 stay at home mothers, 10,000 models and 20,000 teachers who are doing great jobs of promoting the Development Channel App so that Africa can participate and experience the true change that comes with digital technology.
The role of the payment facilitator will be to process payments on behalf of these stay at home mothers, teachers, and models using the Development channel App.
The facilitators also earn about $200 – $1,000 daily while helping move the funds around through the well crafted App.
Being more like a middleman in the financial transaction, the payment facilitator is fighting an economic war of its first kind to restore Africa’s glory.
Fulfillment facilitators on the other hand, will be warehouse owners in Africa who will offer up an end-to-end solution.
Charles N Lambert explains that the fulfillment facilitators will run a Warehouse on behalf of African producers through the Redirect Mall. And this is perfect for logistics minded professionals to work from anywhere through The Black Wall Street platform.
The Redirect Mall is an online Mall dedicated to fighting the Economic War. It is a place where Africans can buy African products in bulk.
The Black Wall Street is introducing this program to make sure Africans have easy access to goods produced by manufacturing companies in the continent.
According to Charles N Lambert, these warehouse owners in the Economic War are people who will help process goods and send them out to the outlets for sales. These people also, will help store the goods, keep logistics, and ensure the delivery of orders from business owners.
The goods will be supplied to the warehouses by different African companies and the job of the fulfillment facilitator will be to manage the warehouse, the people that work in the house, and the tracking of products from different companies.
Charles reiterated that the aim of these programs is to stop the European economic invaders from bleeding Africa. Giving an example of how a company that sells mobile phones in Africa makes away with the sum of 60 billion US dollars annually from Africa, Charles said it is time for Africa to fight back and restore its economy.
Being a warehouse owner is very important in Africa’s first Economic War, this is because Africa is the only continent in the world where there is no inter-trading. The European invaders designed the African trading structure in such a way that Africans cannot trade among themselves.
Goods produced in Africa are majorly exported to countries like France, the United Kingdom, the United States of America instead of being exported within the continent.
As a fulfillment facilitator or warehouse owner, you will enable inter-trading in Africa, as your duty will be to take products from companies, other warehouse shelves, pack them, hand them to shippers and then send a notification to your customers to let them know their packages are in transit.
The Fulfillment facilitators will make the movement of goods across Africa possible, easy, and most importantly, will connect Africa’s economy into one.
The warehouses will be spread across African countries and will service outlets made in Africa products. The fulfillment facilitators will make sure there is a connection of trade, inter-trade between all African countries.
The fulfillment facilitators, described as “movers of the Economic War”, according to Charles, will save Africa over 100 billion USD spent in capital flights annually. And when this is done, there will be job opportunities, unemployment in Africa will begin to disappear, African countries will be able to fund projects without having to seek donors from European countries.
As a fulfillment facilitator, you will be able to earn money by managing the warehouse, from the products and you will be given equity share of the building as everything will be handed over to you to manage.
These are good developments and the first of its kind in Africa. All packaged in the Development Channel App by Black Wall Street.
If all 55 African countries join the Development Channel App movement, which is more like a free trade area, it will be the world’s largest by number of countries, covering more than 1.2 billion people and a combined GDP of $2.5 trillion.
The European Union and its free trade agreement took decades to establish. Africa is now hoping it can achieve the same in a fraction of the time.
Goods, services, and perhaps labour, flowing freely in and out of these 55 African countries.
It could create tens of thousands of jobs and significantly reduce unemployment among the continent’s youthful population.
It’ll boost trade between African countries and would be instrumental in moving the whole continent away from the narrative of simply being a place where the powerhouse economies of the West and East come to get their raw materials.
The Black Wall Street, having set the foundation for the realization of the free trade zone policy of Africa, looks forward to gaining more industrial and value-added jobs in Africa because of inter-African transactions.
To find out more on how to qualify to become a Payment Facilitator or fulfillment facilitator, visit: Charles N Lambert Corridor
The post Black Wall Street unleashes two programs to redefine African commerce from colonial past appeared first on Vanguard News.