Introduction

We live in a globalizing and increasingly interdependent world. For instance, in developing societies in Africa and Asia, among others, dependence on the developed and industrialized rich nations remains a stark fact of economic life. The so-called developing countries are becoming even more economically dependent on the developed nations (Todaro and Smith 2009). In the last three decades or more, globalization has not only become a major topic of discussion both in academic and business circles but also a source of concern in economic circles. The integration of various communities, villages, towns and countries into the global markets has created a wide range of opportunities for greater growth, and presents a potential opportunity for developing countries to improve their economy as well as their living standards (Todaro and Smith 2001; Todaro 2000). However, this comes with its attendant problems as most developing countries of the world are focusing attention on the downside risks of this emerging new phenomenon with concerns arising over the risks of marginalizing the less industrialized countries of the world. This in itself has given rise to a sense of misgiving and anxiety, particularly among developing countries over the consequences of the globalization phenomenon on various developmental strategies and policies. Having said this, this chapter will briefly examine the historical and developmental specificities of globalization. The theoretical contours of globalization will also be critically reviewed. The impact of globalization on Africa’s development from its inception to date will be reviewed. The role that Africa played in the globalization processes and the extent to which Africa benefited/did not benefit from globalization will be focal points of discussion in the chapter.

In view of the forgoing, it is necessary to say that so much has been written about globalization that it is really of no use to start seeking definitions. For instance, at the level of the daily lives of ordinary citizens, it is even doubtful whether our people are really interested in one way or the other in what intellectual ideas on the topic may be. Rather, this is a manifestation of their collective cynicism toward this concept. Unless we are able to capture the reasons for this drift, we run the risk of merely speaking to ourselves.

In spite of the position above, it would be germane to examine a few of the various definitions of globalization as given or defined by various writers. However, before considering the various definitions, we must make it abundantly clear that the concept of globalization is a complex one therefore it has not lent itself to one particular definition. The simple reason for this may not be unconnected with the multidisciplinary status of the phenomenon of globalization. Hence, globalization has been defined from many disciplinary points of view such as Economics, Political Science, Sociology, Humanities, Arts, Music, and so forth. Globalization has become the defining process of contemporary society. According to Khor (1996), globalization is a polarized concept and paradigm which means different things to different people, depending on their worldview, orientation and perspectives. Globalization is multifaceted with a multiplicity of interpretations. Put differently, globalization means different things to different people across cultures. Some describe it as the movement of people, language, ideas and products around the world. Others consider it as the dominance of multinational corporations and the promotion of ethnocentrism with its attendant socially destructive consequences for the cultural identities of the developing societies. Globalization broadly refers to the expansion of global linkages, the organization of social life on a global scale, and the growth of a global consciousness, hence to the consolidation of world society. This definition expresses both the scope and context of what globalization means or refers to in most literature. However, in spite of this there is still no consensus or universal agreement on its meaning. It encompasses several large processes hence definitions differ in what they emphasize. Globalization is historically complex; definitions vary in terms of the particular driving force they identify. The meaning of the term is itself a topic of global discussion; it may refer to ‘real’ processes, ideas that justify them, or to a way of thinking about them.

Finally, in the most basic terms, the globalization of the world economy is the weaving together of the economies of the various societies through trade, financial flows, technology and information, and the movement of people. The rising importance of world trade and capital flows in the world economy today can be attributed to the extent of the trend towards integration of the world economy. This has contributed to increased gross domestic product (GDP) through international trading activities across the world. These are seen in the growth experienced in cross-border financial flows, particularly in the form of private equity and portfolio investment, compared with the past. Furthermore, the revolution in communication and transportation technology and the much improved availability of information have allowed individuals and firms to base their economic choices more on the quality of the economic environment in different countries. As a result, economic success in today’s world is less a question of relative resource endowments or geographical location than it used to be in the past. Now, it is more a question of the market perception of the orientation and predictability of economic policy. The main objectives of this chapter are to investigate the nexus of interaction between the phenomenon of globalization and Africa’s development. However, to achieve this, other specific objectives include:

  • examining the various drivers of globalization in Africa.

  • investigating the various forces and elements of globalization in Africa.

  • determining the impact of globalization on Africa’s development.

  • examining critically the roles Africa has played in the globalization process.

  • determining the extent to which Africa is benefiting/not benefiting from globalization.

  • suggesting how Africa can better appropriate globalization.

Theoretical Understanding of Globalization

Theory of Globalization

The theory of globalization emerges from the global mechanisms of greater integration with particular emphasis on the sphere of economic transactions. In this sense, this perspective is similar to the world-systems approach. However, one of the most important characteristics of the globalization position is its focus and emphasis on cultural aspects and their communication worldwide. Rather than economic, financial and political ties, globalization scholars argue that the main modern elements for development interpretation are the cultural links among nations. In this cultural communication, one of the most important factors is the increasing flexibility of technology to connect people around the world (Adorno 2000, 2003).

The main aspects of the theory of globalization can be delineated as follows:

  • The recognition that global communication systems are increasing in importance every day, and through this process all nations are interacting much more frequently and easily, not only at the governmental level, but also within the citizenry.

  • Even though the main communication systems are operating among the more developed nations, these mechanisms are also spreading in their use to less developed nations. This fact will increase the possibility that marginal groups in poor nations can communicate and interact within a global context using the new technology.

  • The modern communication systems imply structural and important modifications in the social, economic and cultural patterns of nations. In terms of the economic activities the technological advances in communications are becoming more accessible to local and small business. This situation is creating a completely new environment for carrying out economic transactions, utilizing productive resources, equipment, trading products, and taking advantage of the “virtual monetary mechanisms”. From a cultural perspective, the new communication products are unifying patterns of communication around the world, at least in terms of economic transactions under the current conditions.

  • The concept of minorities within particular nations is being affected by these new patterns of communication. Although these minorities are not completely integrated into the new world systems of communication, the powerful business and political elites in each country are a part of this interaction around the world. Ultimately, the business and political elite continue to be the decision-makers in developing nations.

  • Cultural elements will dictate the forms of economic and social structure in each country. These social conditions are a result of the dominant cultural factors within the conditions of each nation.

The main assumptions which can be extracted from the theory of globalization can be summarized in three principal points. First, cultural factors are the determining aspect in every society. Second, it is not important, under current world conditions, to use the nation-state as the unit of analysis, since global communications and international ties are making this category less useful. Third, with more standardization in technological advances, more and more social sectors will be able to connect themselves with other groups around the world. This situation will involve both the dominant and non-dominant groups from each nation.

Globalization theories emphasize cultural factors as the main determinants of the economic, social and political conditions of nations, which is similar to the ‘comprehensive social school’ of Max Weber’s theories. From this perspective, the system of values and beliefs, and the pattern of identity of dominant groups (or hegemony) and alternative (or subordinate) groups within a society are the most important elements in explaining national characteristics in economic and social terms (Adorno 1992). It is obvious that for the globalization position this statement from 1920s Weberian theory must apply to current world conditions, especially in terms of the diffusion and transference of cultural values through communication systems, which are increasingly affecting many social groups in all nations.

Theory of World Systems

A central element from which the theory of world systems emerged was the different form that capitalism has taken around the world, especially since the 1960s. Beginning in the emerging period, the theory provides a premise for new conditions in Third World countries to elevate their standards of living and improve social conditions and the overall well-being of the citizenry. These new conditions were related to the fact that the international financial and trade systems began to take on a more flexible character, in which national government exerted less and less influence. Basically, the new economic conditions provided a motive for a group of radical researchers led by Immanuel Wallerstein to conclude that there were new activities in the capitalist world economy that could not be explained within the confines of the dependency perspective (Unerman 2003).

This group of researchers found that there are worldwide conditions that operate as determinant forces especially for small and underdeveloped nations, and that the nation-state level of analysis is no longer the only useful category for studying development conditions, particularly in Third World countries. The various factors which had the greatest impact on the internal development of small countries were the new global systems of communication, the new world trade mechanisms, the international financial system, and the transference of knowledge and military links. These factors have created their own dynamic at the international level, and at the same time these elements are interacting with the internal aspects of each country.

The tenets of the world-systems theory include that (i) there is a strong link between social sciences—especially among sociology, economics and political disciplines. This school recognizes that more attention is usually given to the individual development of each of these disciplines rather than to the interaction among them and how these interactions affect in real terms the national conditions of a given society; (ii) instead of addressing the analysis of each of the variables, it is necessary to study the reality of social systems; and (iii) it is necessary to recognize the new character of the capitalist system. For example, the approach followed by the classical political economy perspective was based on the conditions of the capitalist system during the Industrial Revolution in the United Kingdom. There was concrete evidence to support open competition, more productive patterns in the industrial sector, and large groups of the population which provided labor for the newly established factories (Wallerstein 1974a, b).

Today this is not the situation especially when we consider the important economic role of transnational corporations, the international political climate, the interdependence that affects the governments of poor nations, and the role of speculative investments. For the world systems school, current economic conditions are not fully explainable by traditional development theories. This criticism of the capitalist system has been present since its emergence. Under current international conditions, there are specific features of monopoly capital, its means of transaction, and its concrete operations worldwide which have affected international relations among nations to a considerable degree. From the analysis of the various characteristics of world systems theory, it becomes evident that the main unit of analysis is the social system, which can be studied at the internal level of a country, and also from the external environment of a particular nation. This social system affects several nations and usually also an entire region.

The world systems most frequently studied in this theoretical perspective are systems concerning the research, application and transference of productive and basic technology, the financial mechanisms, and world trade operations. In terms of financial resources, this development position distinguishes between productive and speculative investments. Productive investments are financial resources which reinforce manufacturing production in a particular nation, while speculative investments normally entail fast profits in the stock market; they do not provide a country with a sustainable basis for long-term economic growth and therefore are more volatile (Wallerstein 1979, 1999). When world systems theory considers trade mechanisms, it distinguishes between the direct transactions, which are those that have a greater, more significant and immediate effect on a country, and those operations which are indirect trade transactions, such as future trade stipulations, and speculation on transportation costs and combustibles prices and forecasts on agricultural crops when they depend on weather conditions to obtain their productivity and yield.

Conspiracy Theory

Conspiracy theory is a term used to explain a situation that clashes with what people believe in, or have believed in any given society for a long period of time (Perez 2001; Kotilainen and Katila 2002). Accepting new information that runs counter to a current practice or belief system may not be easy and can cause feelings of cognitive dissonance, which is a term used in modern psychology to describe the feeling of discomfort that arises from being confronted with two or more conflicting ideas, beliefs or values. Sociologically, where this happened it results in what has been described as cultural lag. It therefore suggests that we have an inner drive to hold onto all our beliefs and attitudes, avoiding the feelings of discomfort and instability that accompany new ideas, regardless of whether those ideas are backed by evidence and sound logic. Most intellectual works in conspiracy theories and conspiracism present a range of assumptions as a basis for studying the phenomenon of globalization. Conspiracism serves the needs of diverse political and social groups anywhere in the world. It identifies elites, blames them for economic and social catastrophes, and assumes that things will be better once popular action can remove them from positions of power. As such, conspiracy theories do not typify a particular epoch in history or ideology of a particular groups or individuals.

The history of African societies has shown that African political and economic leaders have genuinely been the cause of enormous amounts of death and misery, and they sometimes have engaged in conspiracies while at the same time promoting conspiracy theories about their targets. When examined critically within the nexus of globalization and African’s development, it is found that the role played by political and economic elites in Africa, particularly as when it comes to the impact of globalization on African’s development, is enormous. For instance, while the political elite in the former colonies was constituted as the new leadership to run the states as a bureaucratic comprador bourgeoisie, the business elite known as the national elite was to serve as the agents of foreign capital, in other words as petty bourgeoisie. Thus what emerged from the compromise was known as neocolonialism.

Furthermore, although independence was granted to the former colonies, the structural and institutional foundations of imperialist exploitation were strengthened through the accommodation of the national elite and the accentuation and internationalization of imperialist exploitation through the accommodation of the new exploiter powers. The political elite took over power to consolidate the previous policies and programs of the imperial powers. The rise of the new colonial system, which was characterized by (i) exploitation and direct political control and (ii) the involvement of new powers such as the United States, Japan and Germany in the economies of the former colonies, has been associated with more vigorous advocacy of liberalization. Hence, African’s development predicament may not be unconnected with the roles played by African elites in conspiring against their own people and maintaining the structure of inequality between the African economy and that of the rest of the world. A critical review of our theories indicates clearly that globalization and world systems theories take a global perspective in determining the unit of analysis, rather than focusing strictly on the nation-state as was the case in the modernization and dependency schools. The contrasting point between world systems theory and globalization is that the first contains certain neo-Marxist elements, while the second bases its theoretical foundations on the structural and functionalist sociological movement. Therefore the globalization approach tends more toward a gradual transition rather than a violent or revolutionary transformation. For globalist authors, the gradual changes in societies become a reality when different social groups adapt themselves to current innovations, particularly in the areas of cultural and technological communication. On the other hand, conspiracy theory emphasizes that the rise of the new colonial system was characterized by (i) exploitation and direct political control and (ii) the involvement of new powers such as the United States, Japan and Germany in the economies of the former colonies has been associated with more vigorous advocacy of liberalization.

Definition of Terms

Development

The concept of development means different things to different people or societies. It is a relative term that describes different situations in different epochs. Development in human society is a multifaceted phenomenon. At the level of the individual it implies increased skill and capacities, greater freedom, creativity, self-discipline, responsibility and material well-being. At the level of countries, development implies an increasing capacity to regulate both internal and external relationships. Much of human history has been a fight for survival against natural hazards and against real and imagined human enemies. Development was universal because the conditions leading to economic expansion were universal; however, development cannot be seen purely as economic affairs, rather it is an overall social process which is dependent upon the outcome of man’s efforts to deal with his natural environment. The first sociological account of the development was modernization theory, which held that the less developed countries would eventually catch up with the industrialized world, provided they emulate the economic and social systems of Western capitalism. Modernization theory conceptualized development as a staged transition from tradition to modernity brought about at the economic level by the operations of the market and foreign investment; at the social level by the adoption of appropriate Western institutions, values and behavior; and at the political level by the implementation of parliamentary democracy. There has also been a renewed analytic emphasis on the interdependency and integration among nations, not just in term of economic processes, but also at the level of culture and ideology. This premise has significant and growing overlaps with sociological debate about globalization and the environment.

Sustainable Development

Evidence abounds that the most critical debate in the intellectual arena in the contemporary world is to bring about the most beneficial aspects of the two dominant global issues preceding the globe into the new millennium, namely, sustainable development and globalization. These two important concepts appear to occupy two polar opposites. Put differently, the two concepts tend to have two opposing tendencies within them which this section of this chapter tries to address by balancing the demand for sustainable development and the goal. The definition of sustainable development varies from one society to another. However, the internationally accepted definition emphasizes the need for a long-term planning horizon, and the adoption of a development path that improves the quality of life of the current generation, while leaving future generations with at least the same capacity and option for development. Sustainable development reflects the process that meets the needs of the present without compromising the ability of future generations to meet their own needs. In other words, sustainable development is the ability to achieve today’s development by all standards and not compromise future development. This is often called intergenerational equality—the ideas is that we should share natural resources not just with people who are alive on the planet today but also with inhabitants in future generations. The realization of this has impelled both national and international organizations to embark on various efforts to bring about measures to achieve development today without compromising the future of others.

Globalization

Globalization in simple terms denotes the expanding scale, growing magnitude, speeding and deepening impact of transcontinental flows and patterns of social interaction. It refers to a shift or transformation in the scale of human organization that links distant communities and expands the reach of power relations across the world’s regions and continents. Globalization can be examined from two different but interdependent points of views. The first viewpoint is to examine globalization as an inevitable effect of economic growth which includes industry, technology, communication, and so on. As we experience growth in the economy, it is natural and expected for a global market to become established in previously local areas. While we look forward to the establishment of global markets in previously local areas, free trade and the free movement of capital are important and a crucial part of the processes. Globalization is not just an expansion but an increasingly integrated global economy. Therefore, to achieve integration of the global economy, economic freedom is necessary. The second point of view is to examine globalization as a deliberate process, and this is almost certainly more accurate. Yes, there is a degree of inevitability involved, but this is due in large part to the agreements made between nations, between corporations, among others. Business wants globalization and it has almost single-handedly caused it to happen. The emergent globalization in human society was not a humanitarian effort but rather a vision of business opportunities. And these visions become grander and more easily conceived as technological and political progress, globalization also progresses.

Drivers of Globalization in Africa

The phenomenon of globalization can be said to be driven by many factors. There is not just one driver of globalization but rather several drivers which could be summarized into five major areas as discussed below. The media and almost every discussion on globalization by international business speak about different drivers of globalization. These can basically be separated into five different groups: namely, technological drivers; political drivers; market drivers; cost drivers; and competitive drivers. The first and the most talked about is the commoditization of information and communication technology (ICT) infrastructure—computers, software and the internet.

The first two drivers above are now fueling the third driver, economic expansion of emerging markets and new business venturing. Entrepreneurial capitalism is expanding around the world. For example, the Global Entrepreneurship Monitor reports that there are more than 500 million adults actively involved in entrepreneurial activities around the world. China and India are two countries leading this pervasive adoption of free-market ideology and the introduction of free enterprise, entrepreneurial capitalism into their societies. In fact, there are more than 100 million entrepreneurs in each of these two countries. As domestic markets become more and more saturated, the opportunities for growth are limited and global expanding is a way most organizations choose to overcome this situation. Common customer needs and the opportunity to use global marketing channels and transfer marketing to some extent are also incentives to choose internationalization. Sourcing efficiency and costs vary from country to country and global firms can take advantage of this fact. Other cost drivers to globalization are the opportunity to build global scale economies and the high product development costs nowadays (Ferrier 2004).

With the global market, global inter-firm competition increases and organizations are forced to ‘play’ international. Strong interdependencies among countries and extensive two-way trade and FDI action also support this driver.

Elements of Globalization in Africa

The increase in the volume, scale, and velocity of social interactions has been a force behind globalization in Africa. Globalization has many detractors, who claim that global capital privileges profit over local interests and deplore the ‘Westernization’ of local cultures and what they see as the negation of local identities and autonomies. Others suggest that globalization is a dialectical process; although it invades local contexts of action, it doesn’t destroy them. Instead, new forms of local existence and expression emerge. Local products can be globally advertised via the World Wide Web, and emerging agricultural countries of Africa can begin to sell to Western supermarkets through global commodity chains, which have lowered the threshold of entry for smaller enterprises. Basically, globalization rests on a tripod of elements, namely:

  1. 1.

    The expansion of markets (economic), challenges to the state and institutions (political), and the rise of new social and political movements (cultural). Economically, technological changes and government deregulation have permitted the establishment of transnational network in production, trade, and finance, creating what is referred to as a ‘borderless world.’

  2. 2.

    The political power—political power and activities extend across the boundaries of nation-states while policymaking on issues such as human rights, environmental degradation and nuclear safety have required global consensus.

  3. 3.

    The cultural element—the third element of globalization affects more than markets and states. It is altering the lives of people across the globe.

Historical Development of Globalization

Globalization as a phenomenon is not a new concept. History has revealed how national borders had been forcibly broken and left wide open by our colonial masters prior to the amalgamation experiences of most Africans. The origin of globalization can be traced back to the early fifteenth century which was the era of European expansion, settlement and colonialization of most African countries. What this translates to mean is that the current globalization is not the first in history. History equally reminds us how many able-bodied forebears, men and women, were taken as slaves by the European to work in their various plantations to develop their economy. This era can be termed the era of mercantilism. Most of our local produce was condemned and described as inferior and substandard; however, it was later carted away as raw materials to feed their companies producing refined products. This was an era during which the industrial expansion campaign by Britain, France, Portugal, Spain and Germany among many other nations was driven by the spirit of imperialism aimed at the accumulation of capital. The famous Trans-Atlantic trade was part of the mercantilist globalization. The founding of Latin America by Portugal and Spain through its discovery by Christopher Columbus and others was part of the mercantilist movement. Although the term globalization had not been coined during this era of discovery, the period could be said to be characterized by mercantilist activities that indirectly began in all the continents in the name of searching for markets and raw materials.

It is a known fact that the goals of globalization cannot be achieved without removing all obstacles to the free movement of capital and labor and implementing liberal policies. However, this may not have been possible if Africans had not played key roles in the globalization process. The policies that integrated African countries into the world economy were necessitated by the Industrial Revolution in Britain which called for human and raw materials to be used in the industries (Todaro 1981). From the 16th to the early nineteenth century, Africa played an important part in the growth and development of the world economy. It served as a source of slaves and raw materials for the white settler plantations and the mines in the New World. Britain began to preach the gospel of ‘free trade’ following her emergence as the first industrialized capitalist power. This she did with the aim of removing the mercantile barriers to her manufactured products that were exported to other countries. In the last quarter of the nineteenth century and the first decade of the twentieth century, France, the United States, Germany, Belgium, Italy and Japan joined the industrialist capitalist race (Todaro 1981, 1997). The resultant effect of this race was the industrial carving up of the world which began a new phase of globalization, encapsulated in the colonization of Africa, Asia and Latin America.

Thus, during the nineteenth century, the continent was progressively transformed as an additional source of raw materials for European factories and also, by the end of the century, as a market for goods from their factories. The famous Berlin Conference led to the partition of Africa while Asia and Latin America were also shared among the leading imperial powers. This period marked the era of colonialism in which these continents were invaded by the European countries for human and raw material resources for their industries. This was mainly done through the slave trade, colonialism, neocolonialism and now globalization. The period of colonialism marked the emergence of new industrialized powers that were not part of the old system, for example the United States, Japan and Germany began to show interest as a means of advancing their economic strength. This generated rivalries among the new economic powers and the traditional economic powers. As colonial imperialism developed, the contradiction generated gave rise to the growth and development of nationalism within the colonies. There was compromise in which the new economic power and the traditional economic power, which included firstly the investment and other economic interests of the traditional colonial power in each colony, were to be left untouched. Secondly, the new powers were allowed free access to the former colonies, in other words the former colonies were to be open to the new powers.

Finally, the political elite in the former colonies were constituted as the new leadership to run the states as a bureaucratic comprador bourgeoisie, and the business elite known as the national elite served as agents of foreign capital, in other words as petty bourgeoisie. Thus what emerged from the compromise was known as neocolonialism. In addition, the independence which was granted to the former colonies had the structural and institutional foundations of imperialist exploitation strengthened through the accommodation of the national elite and with the accentuation and internationalization of imperialist exploitation through the accommodation of the new exploiter powers. The political elite took over power to consolidate the policies and programs of the imperial powers. The rise of new colonial system was characterized by (i) exploitation and direct political control and (ii) the involvement of new powers such as the United States, Japan and Germany in the economies of the former colonies and has been associated with more vigorous advocacy of liberalization. It should be mentioned here that the fact that Africa became the supplier of the industrial raw materials and energy needs of developed countries while the Africans themselves stood at the receiving end was made possible because of the roles played by the African socio-political and economic elites.

Impact of Globalization on Africa’s Development

Globalization holds wide ranging improvements particularly for the economic state of a country. According to Adedeji (2012), globalization should benefit all countries and should raise the welfare of all people. This implies that it should raise the rate of economic growth in poor countries and reduce world poverty (Ravillion 2003). It should not increase inequalities or undermine socioeconomic security within countries. Added to this, the real test for globalization is whether it significantly speeds up development and the reduction of absolute poverty in the world, and whether it ensures economic, social and environmental sustainability. Hence, the impact of globalization should not be confined to poor countries that have been marginalized from the process.

For people in richer countries, the information revolution is helping to forge a sense of global community and transnational solidarity. This is visible in the growth of global coalitions of non-state actors around issues of universal concern such as globalization itself, the environment, human rights, humanitarian aid and labor exploitation. In addition, Adedeji (1981; Ogunsola 2005) emphasized that the global information revolution has also clearly affected cultures and social values. The fear contemporarily is that constant exposure of the images of Western life styles and role models could lead to tensions and gross diffusion both culturally and socially, and it has been experienced as divisive by developing nations. For instance, in Nigeria the main mode of dress among the youth (aged 15–35 years): males wear earrings and draw their trousers down below their waist (fondly called ‘sagging’) and the female dress similarly. These, to mention just a few, are considered strange to Africa culture (Tebin and Estabrooks 1995; Tendon 1998a, b). On the aspect of growth of illicit cross-border activities, Khor (1996) remarked that global interconnectivity, which facilitates legitimate cross-border economic transactions, has helped to increase tax evasion, money laundering, trafficking in people and trade in sex and drugs. In this regard, such nefarious activities caused a great setback to developing nations, in particular to Nigeria over the years based on serial activities of political stooges to the West and some sycophants that have arm-twisted the development of the country.

Benefits of Globalization to Africa

Globalization is the term used to describe the trend towards countries joining together economically, through politics and education. Countries joining together economically view themselves not just through their national identities, but as part of the world as a whole. The dynamism of globalization is engineered by the rate of development and the level of intensified interdependence which makes it almost impossible for any nation to isolate itself if it is to develop. All nations have tendencies to benefit from the interdependence which is manifested in the increasing economic linkage among countries through trade, financial flow and so forth. Below is a list of a few of the many benefits of globalization to Africa’s development. Firstly, globalization benefits certain countries more, such as those in the First World or the Global North. These advantages include:

  • Resources of different countries are used for the producing goods and services they are able to do most efficiently.

  • Consumers to get a much wider variety of products to choose from.

  • Consumers get the product they want at more competitive prices.

  • Companies are able to procure the input goods and services required at the most competitive prices.

  • Companies get access to much wider markets.

  • Globalization promotes understanding and goodwill among different countries.

  • Businesses and investors get much wider opportunities for investment.

  • The adverse impact of fluctuations in agricultural production in one area can be reduced by pooling the production of different areas.

  • Globalization helps in bringing the whole world together as one village. Every consumer has free and frequent access to the products of foreign countries.

  • Optimum use of natural resources is possible.

  • Helpful in cost reduction by eliminating cross-border duties and fees.

However, as a result of globalization, many local brands and businesses in poorer developing countries go bankrupt and cannot survive the economic might of the rich countries. Local cultures and traditions change. People no longer wear national costumes because they all want to look like Hollywood stars and wear jeans, for example. People want to become ‘American’ and consume everything American. Also because of globalization, more and more people are learning and speaking English to the detriment of local languages. There are more international schools and the focus now is on the acquisition of this global language rather than their own mother tongue. The disadvantages of globalization include the following:

  • Developed countries can stifle development of undeveloped and underdeveloped countries.

  • Economic depression in one country can trigger an adverse reaction across the globe.

  • Globalization can increase spread of communicable diseases.

  • Companies face much greater competition. This can put smaller companies at a disadvantage as they do not have resources to compete on a global scale.

  • Globalization increases the gap between the poor and the rich.

  • Cultural convergence—more people are moving towards Western fashion.

  • Environmental harm—resources are used up—scarcity creates externalities, pollution and waste products.

  • Globalization demands more of skilled workers causing redundancy of skilled workers.

  • Globalization is a direct attack on local small industry.

  • Global companies with hi-fi infrastructure have almost ruined local traditional small and medium industries.

  • Globalization increases cut-throat competition.

  • Globalization increases monopolization by countries equipped with know-how and power.

Panacea to Africa’s Development

In order for Africa to enjoy the benefits of globalization as enumerated above and achieve meaningful development, the various political dispensations of Africa must strive to tackle the intricacies that are bedeviling the continent. Accordingly, the following must be achieved:

  • Corruption should be eliminated or at least reduced to the bare minimum.

  • A strong message should be sent to the West not to provide of safe havens for Africa’s economic looters.

  • Military and other forms of assistance to combat insurgency must be intensified.

  • Provision and assistance for the internally displaced persons (IDPs) within the continent which is increasing at an alarming rate, considering the sociodemographic characteristics involved.

  • Trade – effective bilateral relationships must be pursued and sustained by all parties.

  • Financial assistance ‘grants’ should be supplied to combat poverty and boost agriculture in order to enhance employment of the unemployed.

  • Assistance in the area of security challenge(s) and aa host of other social problems.

  • Improvement in political and democratization processes.

  • Enthronement of rightful political leaders with appropriate will to galvanize the nation to development.

Conclusion

Globalization is a product of human processes, and the advantage belongs to those with adequate management of human resources. There is no doubt that the world is growing rapidly and developing into a single world unit, otherwise known as the ‘global village’. Rapid movement in realizing the new and ongoing process of reforms and the effect of globalization is a direct function of (national) development. Africa, Nigeria in particular may in the near future begin to emerge as one of the leading active participants in the world economic order if the necessary conditions for rapid development are in place. These include:

  • Gear towards formidable political leadership.

  • Improved export capacity (agricultural produce, resourceful manpower etc.) and decreased importation.

  • Reduction in volume of external debt in order to relieve the burden of debt servicing.

  • Curb mismanagement and corruption.

  • Re-invigorate absolute independence and tactical withdrawal from imperialism and neo-imperialism.

Thus, if the above recommendations as identified are put in place and instituted, Africa might be on the path of galvanizing development and benefiting from the advantages accruable from globalization.