In 2015 when African Economic Merit Awards (AEMA) was established, we set-up an economic team to look into the problems facing African economy to drive an entrepreneurial chain in establishing individuals to becoming job creators in different sector.
The fact is, Africa has the longest and oldest economic history and humanity, originated in Africa, and as soon as human societies existed so did economic activity (buying and selling).
AEMA is beyond an award. Our organization is founded on the platform to set Africa on the world global map economically.
Entrepreneurship is a major driving force of AEMA to help youth who do not have access to pursue their dreams in life. Making latent talents, talent discoverers.
The African Economic Merit Awards will build, a well-structured travel and tourism industry. This industry is one of the world’s largest industries with a global economic contribution (direct, indirect and induced) of almost $7.6 trillion in 2014. While GLOBAL tourism is a $3 billion a day business and accounts for close to 9% of the world’s jobs (263 million), Africa’s share of industry receipts remains on the periphery at only 5.2%. When North Africa is taken out of the equation, this drops to 3.3% for the rest of the continent, according to World Tourism Organization data.
The economy of Africa consists of the trade, industry, agriculture, and human resources of the continent. Going back to where African economy started made us go back to basics in forming our structure in 17 African countries to work hand-in-hand with NGOs at the grassroots to promote and execute our educational, agricultural, health and technology programmes.
As of 2012, approximately 1.07 billion people were living in 54 different countries in Africa. Africa is a resource-rich continent that needs to be harnessed rightly. Recent growth has been due to growth in sales in commodities, services, and manufacturing mostly created by resilient entrepreneurs.
In March 2013, when Africa was identified as the World’s poorest peopled continent, we thought of how to proffer solutions by awarding to develop people in communities across Africa and to serve the people, for the growth of Africa society into a greater fulfilled continent.
In 2017, the African Development Bank reported Africa to be the world’s second-fastest growing economy, and estimates that average growth will rebound to 3.4% in 2017, while growth is expected to increase by 4.3% in 2018.
Development has been present throughout the continent, with over one-third of Sub-Saharan African countries posting 6% or higher growth rates, and another 40% growing between 3% to 7.3% per year. Notable international business observers have also called Africa as a prospective economic growth engine of the world.
The pyramid programme scheme we have created for the basic needs of the people is a sustainable initiative. Creation of Nzilani Festival will create a global platform for over 500,000 (five hundred thousand) youths in Africa of all class and we have also created this to unite and bridge the gap amongst Africans.
The government, private sector and NGOs are also big beneficiaries of African Economic Merit Awards. The major measure of economic development is human development. Human development is very important, and includes the health of the people and their enterprise. This goes together with economic growth in all spheres. As people in a country become healthier and get better informed, there is always riches among citizens.
Economic development is the growth of the gross development profits of a nation, people from a low-income ‘poor’ economy to a high-income ‘rich’ economy. When people at the grassroots quality of life is improved, there is more economic development in which we stand for at the African Economic Merit Awards.
AEMA team in studying economic development, we looked at a lot of things. We searched on how development is happening today and why people invest and why development is not sustainable in this part of the planet, Africa.
Temofe is the Founder and President of AEMA.