Africa stands at a defining moment in its economic history—one where collaboration, innovation, and strategy could either drive explosive growth or deepen systemic challenges. According to Deputy Speaker of Nigeria’s House of Representatives, Benjamin Kalu, the answer to Africa’s economic transformation and the migration crisis lies in a bold concept: near-shoring.
Speaking during the EU-African Relations: An African Perspective roundtable in Brussels, Kalu passionately advocated for industrializing Africa at the source—bringing European technology and manufacturing expertise closer to Africa’s raw materials. The result? More jobs, value-added products, and reduced migration.
What is Near-Shoring and Why Does Africa Need It?
Near-shoring refers to the practice of setting up manufacturing and processing plants close to the source of raw materials. For Africa, this means processing cocoa into chocolate locally, and transforming lithium and other minerals into batteries—instead of exporting raw materials for Europe to refine and re-import at higher costs.
Kalu argues that this strategy creates massive job opportunities, unlocks local wealth, and prevents the brain drain of African youth desperately seeking greener pastures in Europe.
“Africa holds 42% of the world’s youth population. What are we doing with that manpower?” he asked, emphasizing the untapped demographic dividend of the continent.
A Win-Win for Africa and Europe
Kalu’s vision is not a one-sided affair. He insists that Europe has much to gain from a deeper, strategic alliance with Africa.
- Europe brings in tech, capital, and expertise.
- Africa provides raw materials and a vibrant workforce.
This partnership, according to Kalu, will not only reduce pressure on European borders due to illegal migration but also offer new markets and trade opportunities through the African Continental Free Trade Agreement (AfCFTA).
“Let’s build factories, not fences,” Kalu stressed. “Let’s create a future where Africa’s greatest export is not its people, but the innovative products and services they create.”
Security, Not Just Economy
Beyond economics, Kalu addressed the issue of security in Africa. He asserted that Africa must own its security systems—with Europe providing the technological support (like surveillance drones and modern intelligence tools) rather than boots on the ground.
Past externally driven security efforts have failed, he said. The future lies in a locally owned and technologically supported security structure.
Rewriting Africa’s Financial Narrative
Kalu also called out global financial institutions for unfair credit ratings and biases against African economies. He advocated for support toward Africa’s new Credit Rating Agency (AFCRA) to help level the playing field for investments.
“Let us foster trade with real value on both sides of the Mediterranean. Nigeria and Africa are ready to build this shared future.”