Despite its significant contributions to human flourishing, capitalism is often accused of producing disproportionate negative consequences, such as inequality, excessive consumption, and environmental degradation. As such, there are efforts to rethink and re-align capitalism to better serve society. Africapitalism, which emphasizes the sense of progress, parity, peace, and place as essential characteristics of a fit-for-purpose-capitalism, is an African contribution to the global discourse on the transformation of capitalism. By drawing attention to the importance of place in capitalism, Africapitalism also draws attention to the need to appreciate capitalism fundamentally as an indigenous practice rooted in and influenced by place, as much as capitalism in turn influences place.
One of such indigenous approaches to capitalism is the One Kindred One Business Initiative (OKOBI) promoted by Imo State in Nigeria, under the leadership of Senator Hope Uzodimma. OKOBI is a form of shared entrepreneurship anchored on communal social ties (i.e., kindred spirit) for shared prosperity. It supports communities by helping them to be self-sufficient, and addresses issues of poverty, inequality, and unemployment by leveraging strong kinship bonds. By harnessing a standing indigenous tradition of collective action, shared ownership, and mutual aid, OKOBI effectively puts Africapitalism into action and serves as a viable blueprint for economically empowering hitherto marginalized rural and urban communities in Africa and beyond.
It is important to understand OKOBI and its implications for Africa's development and for societies with similar social structures and development needs – and this is the primary goal of this program.