DEVELOPMENTBy BiztechAfrica - May 24, 2013, 9:13 a.m.
A US war veteran and businessman is launching a USD100 billion initiative aiming to rally the support of African Americans to aid development in Africa.
The businessman, Jerome Almon, has launched an ambitious plan calling on African Americans to invest USD100 billion in Africa annually. Under the banner, ‘The Power of one Trillion’, the campaign will be centred around an online portal, www.thepowerof1trillion.com, and will move into full implementation at an invitation-only conference of African and African American scholars, business owners, and government officials. Several open events and the website will present the complete blueprint of the initiative.
Almon says he will forward an advance copy of the plan and White Paper to South African President Jacob Zuma, African Union Chairman and Ethiopian Prime Minister Hailemariam Desalegn, and African Union Commission Chairperson Nkosazana Dlamini-Zuma.
Almon says: “African Americans need a larger goal to concentrate on, as we had during the Martin Luther King era. As Africans, we need to tie ourselves to the continent and its people. African Americans want to do much more for Africa, but do not know how. The African Diaspora outside of America has done a great job in helping the continent, it is time for us to do our part.”
Almon says economists put the current African American GDP at USD2.25 trillion, growing to USD2.6 trillion by 2017. His plan calls for the total Black American investment in Africa to reach USD230 billion by 2017, with USD110 billion being directed grants. With an initial focus on South Africa, Almon believes the plan can be expanded to create thousands of new African and African American millionaires, dozens of new billionaires, and elevate the poor to the middle class.
He says: “The plan would create millions of new African business owners worldwide, increase the income of the average African, create thousands of new millionaires, and dozens of new billionaires in a wide range of categories. It would solve most the problems Africans and African Americans have.” Specifically the plan concentrates on:
-Providing venture capital for entrepreneurs in both societies
-Providing hard currency to African banks
-Funding major infrastructure projects from water purification plants, road, bridge, dam, power/green technology projects
-Funding state of the art health facilities
-Funding education and advanced education
-Providing no strings attached block grants to African governments
-Dramatically increasing African American tourism, investment, and partnerships in Africa
-Providing clear, concise information and a clear executable plan
-Providing as much technnology and advanced technology to Africa as quickly as possible
-Addressing short comings in the entertainment and media areas, including launching an Africanbroadcasterto provide unfiltered information to the masses
Almon believes the time is now to capitalise on huge economic positive that exists for Africans due to the rise in African American income, the great potential and resources of Africa-with the potential of the people being the #1 unlimited factor, and technology allowing African countries to grow their GDPs at twice the current rate.
Almon says: “My overall message to African Americans is simple: We already spend the USD1 trillion+ and get nothing for it. With the plan, we get everything for it – a place to call home (Africa), a worthy cause in life, we will live the lifestyle our economic reality allows (we are in the top 6% of countries in terms of the size of our economy and will be in the top 3% by 2017, but live and behave economically as if we are in the bottom 6% and 3%), and most importantly we pull our weight as Africans and contribute to the growth of Africa as all other Africans do and have.”