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Africapitalism: Shared Entrepreneurship for Economic Development

How are group-owned/community-based businesses economically empowering rural and urban Africa?

Africapitalism: Shared Entrepreneurship for Economic Development

How are group-owned/community-based businesses economically empowering rural and urban Africa?

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.

PROGRAM CHAIR
PROGRAM CHAIR

Kenneth Amaeshi
Florence School of Transnational Governance, European University Institute


Kenneth is a Professor of Sustainable Finance and Governance at the European University Institute. He is currently on long-term leave from the University of Edinburgh, where he is the Chair in Business and Sustainable Development and Director of Scaling Business in Africa. He is also an Extraordinary Professor of Business in Africa at the Graduate School of Business, University of Cape Town, South Africa, and was a Visiting Professor of Leadership and Financial Markets in Africa at the London School of Economics. Kenneth is a leading scholar on sustainable business and finance in the global south. His research has a very strong interface between business and society, particularly national governments in Africa. Since 2015, he has significantly contributed to developing the intellectual foundations of Africapitalism – an economic philosophy for the development of Africa – and championed its mainstreaming in the global academia.

Channels TV

Cultivating Community

Kenneth Amaeshi speaks on Channel TV about how the OKOBI initiative is revolutionising agriculture in Imo State.

Channels Television, 26.07.2024.
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The OKOBI Model

The OKOBI Model leverages Africapitalism to tackle unemployment in Africa through shared entrepreneurship and collective ownership. This is an invitation to explore partnerships with OKOBI in support of sustainable entrepreneurship and inclusive economic growth in African regions.

Curatorial Note
Curatorial Note

El Anatsui, "Earth developing more roots" (2011). Aluminum (bottle caps) and copper wire. © The artist.

El Anatsui's “Earth developing more roots” (2011) is a monumental sculptural installation made from thousands of metal bottle caps and fragments. Crumpled, crushed, and stitched into various compositions, the large panels are assembled into massive abstract fields of color, form, and line. Sourced from Nigeria, the liquor bottle tops used in this commission are part of a contemporary industry built on colonial trade routes. Viewed from a distance, the artwork resembles a map depicting a scattered land. Up close, the logos on the bottle caps speak to the social life of the material as a commodity of a global industry built on colonial trade routes. Together, the past and present of Africa and Europe merge into sculptural forms that hang in the air and seem to float in space. The hangings embody Anatsui's idea of "non-fixed form" and are part of his highly experimental approach to sculpture. Anatsui explores the poetic possibilities of his materials. "Each material has its own properties, physical and even spiritual," he explains. “Earth developing more roots” explores elemental forces intertwined with human histories of power, oppression, dispersal, and survival.

ART

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