There is no allegiance with Africa/ Africans/ black people globally AND black capitalists / Pillars of the black society besides: Extraction and Exploitation/ Why Is It So Hard to Find African Elites Not Tied to Exploitation or Extraction Industries ?

An Analysis of Exploitation

Africa, despite its vast natural wealth, continues to grapple with poverty, underdevelopment, and inequality.  I'm convinced that the continent's elite class, 

[ products of the African womb and vagina ]

comprising politicians and billionaires, has largely amassed wealth through systems of extraction and exploitation. 

Unlike their counterparts from other regions, who often use their wealth to uplift their communities, African elites have repeatedly demonstrated a pattern of self-enrichment at the expense of black folks. The systemic exploitation by African elites, the absence of genuine allegiance between black capitalists and African people, and a comparative analysis with billionaires from other races, using undeniable data to expose the brutal reality of wealth accumulation in Africa is what i'm noticing with age..

The Nature of African Ruling Classes and Billionaires: Extraction and Exploitation

African billionaires and politicians have primarily accumulated wealth through industries such as mining, oil, gas, and other extractive sectors. These industries, which are central to Africa's economies, contribute significantly to the continent’s GDP but offer little in terms of widespread benefits for the general population. For example:

Aliko Dangote, the richest man in Africa, built his wealth through industries like cement, sugar, and oil. While Dangote has created employment opportunities, the bulk of his wealth has come from monopolistic practices that have stifled competition and increased prices for essential goods in countries like Nigeria.

Patrice Motsepe, South Africa's first black billionaire, made his fortune through mining. His wealth is tied to an industry notorious for poor labor conditions, environmental degradation, and exploitative practices. Despite his wealth, South Africa remains one of the most unequal countries in the world, with a Gini coefficient of 0.63, the highest globally, indicating extreme inequality【World Bank, 2019】.

Isabel dos Santos, the daughter of Angola’s former president, built her fortune through oil and telecommunications. Investigations revealed that her wealth accumulation was directly tied to her father's position of power, enabling her to secure lucrative deals that would have been impossible without political influence【The Luanda Leaks, 2020】.

The pattern is clear: African billionaires and political elites often operate in industries that extract wealth from their countries' natural resources, generating immense personal wealth while leaving local communities impoverished and degraded.

Why It's Hard to Find African Elites Not Tied to Exploitation or Extraction

1. Colonial Legacies and Neo-Colonial Structures

The colonial legacy left African economies heavily reliant on resource extraction, creating a system where wealth is generated through exploiting the continent’s natural resources rather than through diversified, sustainable economic activities. Post-independence, many African elites simply inherited these exploitative structures and replicated them for personal gain. For example, Nigeria, Africa’s largest oil producer, earns billions from oil annually, yet over 40% of its population lives below the poverty line【World Bank, 2020】. This shows that wealth is concentrated in the hands of a few elites with political connections, while the masses remain impoverished.

2. Corruption and Patronage Systems

Corruption is endemic in many African countries, where political office serves as a direct pathway to wealth accumulation. For example, according to the Transparency International Corruption Perceptions Index, 44 out of 49 Sub-Saharan African countries score below 50/100, indicating widespread corruption【Transparency International, 2023】. Political power is often used to secure lucrative contracts, concessions, and monopolies in extractive industries. This creates a cycle where wealth accumulation is tied to political influence rather than genuine entrepreneurship or innovation.

3. Absence of a Welfare State and Lack of Altruism

In African societies, poverty is often criminalized, and there is a marked absence of comprehensive social welfare systems. This lack of a welfare state contrasts sharply with the safety nets in many Western and Asian countries, where billionaires have played important roles in supporting their societies. 

The absence of social safety nets in Africa simply proves the disconnect between the elite class and the general population. This is exemplified by the case of a Nigerian state governor who hoarded cartons of Indomie noodles intended for distribution during the Lekki crisis, a move that demonstrated the contempt with which African elites often regard the poor.

The ruling classes in Africa, instead of promoting inclusive development, have historically used their positions to enrich themselves, viewing their ability to speak European languages or adopt Western mannerisms as a mark of civility. Yet, true civility lies in the ability to uplift and support the weakest members of society. This is where African elites have failed repeatedly.

Comparative Analysis with Billionaires from Other Races and Regions

In contrast to African billionaires, many of their counterparts from other regions have made significant contributions to the development of their societies:

Bill Gates (USA), with a net worth of over $100 billion, has donated over $50 billion through the Bill & Melinda Gates Foundation to causes such as global health, education, and poverty alleviation【Bill & Melinda Gates Foundation, 2022】.

Jack Ma (China), after building Alibaba into a global e-commerce giant, stepped down to focus on philanthropy, contributing to education, rural development, and entrepreneurship in China【Alibaba Foundation Report, 2021】.

Mukesh Ambani (India), despite controversies, has made substantial investments in infrastructure, digital connectivity, and education in India. His company, Reliance Industries, played a critical role in providing affordable 4G services, revolutionizing India's digital landscape and creating millions of jobs.

The contrast is clear. Where Western, Asian, and even Middle Eastern billionaires have invested in transformative projects that benefit their societies, African billionaires largely fail to invest meaningfully in their communities, preferring instead to channel wealth into luxury consumption or investments abroad.

Lack of Altruism and the Disdain for the Poor

African societies are marked by an absence of genuine welfare systems, and the poor are often treated with disdain. This is evident in the fact that no African country has a comprehensive social welfare state despite the continent’s immense wealth. In many African cities, you find the most luxurious mansions standing next to slums, a visual testament to the inequality perpetuated by African elites.

During crises, like the Lekki massacre protests in Nigeria in 2020, where people demanded an end to police brutality, the ruling elite hoarded palliative supplies meant for the poor, including basic food items like Indomie noodles. This incident highlighted how African leaders often use resources intended for the poor as political tools, setting in concrete the idea that to be poor in Africa is to be disregarded and exploited.

Absence of Allegiance

The lack of allegiance between African capitalists and the masses is evident in data showing the disparity between wealth and poverty on the continent:

As of 2022, Africa had 46 billionaires with a combined wealth of $104 billion【Forbes, 2022】. Yet, over 400 million people live on less than $1.90 a day, representing 34% of the continent’s population【World Bank, 2021】.

In contrast, the United States, with 735 billionaires, has a poverty rate of about 11.4%【U.S. Census Bureau, 2021】, and the wealth of these billionaires often funds major philanthropic initiatives, supporting healthcare, education, and infrastructure development.

This data reveals that African billionaires, despite having  resources than their commmon Africans or indigenous counterparts, do even less to uplift their societies. Their wealth is primarily tied to exploitation, and their contributions to the well-being of their people are minimal.

The Brutal Truth

The reality is that Africa's elite class, both billionaires and politicians, have little interest in elevating lookalikes based on evidence it seems they are scared of genuine collective progress or uplifting the continent’s people. They operate within a system that thrives on exploitation, extraction, and self-enrichment, with little regard for the welfare of the masses. Unlike billionaires from other regions, who at least attempt to balance wealth accumulation with societal contributions, African elites have failed to display true civility, which is marked by altruism and benevolence toward the weakest members of society.

Until African elites shift from extraction to creating systems that genuinely empower and uplift their people Africa has no chance on a global stage of equals as a continent. Charity begins at home. Period.

[ Olofin ]