The misconception that money and natural resources are wealth is rampant among intellectuals and other educated individuals, and even economists. Prevailing monetary and economic policy choices reflect this entrenched misconception.

It is common for commentator to point to corruption, incompetence, malicious Western meddling, and other factors as the source of Africa’s continued economic woes. One seldom hears so-called experts point to taxes as a major impediment to economic development. Even “development economists” do not repudiate Africa’s paradoxically onerous tax regimes.

The energy and climate goals that Western governments, the United Nations, and other organizations are pushing on Africa constitute a crippling blow to its economies. As the least developed region, Africa should unequivocally prioritize economic development. One would think that amid energy poverty in Africa, Western governments and “development” institutions would prioritize energy security for African countries over energy transition.

Systemic debt and deficit spending are intrinsic features of today’s economic system. Unlike classical economics, where markets play the leading role and governments the supporting one, the existing economic model, driven by Keynesian theory, has inverted the roles.

The African Continental Free Trade Area (AfCFTA) is the world’s largest free trade area by the number of countries. It is the most ambitious and, given demographic trends, the most promising free trade project on earth. The AfCFTA matters very much to Africa’s economies separately and to the continent’s collaborative and integrated economic development.