Bahamas Another Jamboree -By Tife Owolabi

The African Export-Import Bank (Afreximbank) is currently hosting its 31st Annual Meeting (AAM) and the third edition of the AfriCaribbean Trade and Investment Forum (ACTIF) in Nassau, Bahamas, from June 12 to 14. This event aims to foster economic cooperation between Africa and the Caribbean, promote trade and investment between the two regions, enhance economic growth and development in both regions and encourage collaboration on pressing matters like climate change.

The benefits of this event to participants, particularly African states, are numerous. Firstly, it provides access to new markets and investment opportunities, allowing African businesses to expand their reach and tap into the Caribbean market. Also, it offers a unique platform for networking with investors and business leaders from the Caribbean and Africa, facilitating the establishment of valuable partnerships and collaborations.

Furthermore, the event promotes enhanced economic cooperation and trade between the two regions, leading to increased economic growth and development. Additionally, it provides opportunities for capacity building and knowledge sharing, enabling African states to learn from the experiences of Caribbean nations and vice versa. lastly, it strengthens economic influence and global action on issues like climate change, enabling the two regions to speak with one voice on the global stage.

But is this not another jamboree for African states and subunits? Shopping for foreign direct investment (FDI) is a wild goose chase. A beautiful house doesn’t need an advertisement; any passerby will see it and desire to take selfies there. African states must realize this stark reality: only a beautiful girl attracts suitors. The investors you seek have your data and metrics to determine how viable your economy is to their benefit.

Moreover, it is for political consolidation and recognition, as the world today is divided into spheres of influence and interest among capitalist states. Their goals are not really in your growth but to make returns on their investment, and maintain prominence, and dominance.

According to Bulgarian writer Tzvetan Todorov (2010), they are the “appetite” and “anxiety” states. He describes such states as China as an appetite state and states like the United States as an anxiety state. These concepts of Appetite and Anxiety States in Global Politics form their motivations and behaviours toward investments. In the realm of global politics, African states must understand and predict their actions on FDI and diplomatic strategies.

The appetite state is driven by a desire for more power, resources, and influence, characterized by expansionist tendencies, a willingness to take risks, and a desire to dominate. On the other hand, the anxiety state is motivated by fear, insecurity, and a desire for survival, characterized by a focus on defence, security, and maintaining the status quo.

However, the capitalist states left us after colonization, but we are now chasing after them for re-colonisation. Also, no investor will invest in you if your home is not in good order and If it not to their advantage and benefit.

— Tife Owolabi, a development studies enthusiast, writes from Yenagoa, Bayelsa State.”