Greetings,
Yes, the old urban economic system is done. However, in crisis there is innovation. We now must do the following to create a 21st century model of economic sustainability.
The 4th Industrial Revolution is here. It’s not about conservative vs liberal, Democrat vs Republican, man vs woman, etc. It’s about 100% sustainability, accountability, integrity and full trust.
Old leadership is comfortable and corrupt in all Black communities worldwide. So when we talk about a 21st century African Diaspora I’m focusing on the next generation of millennials and Generation Z. We must stop this bashing of our African nations and be part of the solution. We must STOP complaining and start being proactive in our approach to solutions.
These are the solutions:
(a) Revamp the zoning ordinances in our community. Most are outdated. This includes the elimination of single family zoning.
(b) Implement a renewable energy utility in a local urban community to generate revenue back into the general fund.
(c) Creation of a cultural arts district that is fused with urban agriculture and technology to drive real estate into these key areas of much needed development.
(d) Leverage the EB-5 Investor visa program to attract foreign investors from Africa to engage in turnkey projects within the Opportunity Zones in the hood to create new jobs and opportunities along with a much needed tax base and return on investment for the investors.
(e) Increase broadband width and 5F technology to create an Internet of Things (smart city). Citywide wifi network.
(f) Repurpose K-14 educational system into a Career Techical Education School District where a student can graduate with three things:
1. A High School Diploma
2. An apprenticeship
3. An Associate Degree
To help fill the skilled Trade and Skilled Tech Trade gap.
In addition, online education is mandated and public library systems are utilized for both learning and workforce development.
The community colleges must be the engine’s that transform local urban communities into prosperous ones by engaging not just in academia and workforce development but also developing new 21st century urban regional planning via incinitives to attract new businesses into our local communities. The key is for our students to be work/entrepreneurship ready by the time they finish 12th grade/secondary education.
(g) Establish a citywide foreign trade zone for import purposes.
(h) Urban cities should leverage their communities for the African Growth Opportunity Act and the African Continental Free Trade Area to develop an African Supply Chain Management. The supply chain feeds into the farmers market, local grocery stores, etc. where a portion of that revenue will help develop scholarships and fellowships for young adults going into agriculture technology and business. In addition, we must leverage our waterways, roads and railways to create a logistic network of sustainability.
(i) Instead of focusing on “mom and pop” businesses repurpose those businesses into co-working and business technology incubators.
(j) Urban communities should consider expanding or establishing advanced manufacturing facilities developing tech hardware, hemp development and 3D Printing.
(k) Zone an area of a neighborhood in a city for the homeless with homes made from 3D Printing.
(l) An urban community must institute blockchain technology for all city services.
(m) The advent of community land trust is necessary for low-income residents to slow down gentrification.
N. We must create a strong financial technology (fintech) system. A city can develop it’s own CashApp or Venmo system to pay bills or other purposes that are city owned. In addition, our faith based community must engage in community development corporations or Community Development Entities (CDEs) to create a Community Development Financial Institutions.
O. The financial institutions we develop must have their OWN consumer reporting company to develop our OWN credit scoring guidelines. From there those same financial institutions will develop their OWN guidelines for underwriting for families purchasing their own homes, commercial properties, etc.
P. The same financial institution we develop will have a partnership/subsidiary with African banks on the continent to create a 21st century trans-Atlantic fintech system with money transfer services and a U.S EXIM Bank component.
Q. We must link the wealth of health care human capital and technology to sustain our communities. Low-income communities must engage in e-health, e-ambulance, e-pharmacy, telemedicine, and mobile hospitals in our communities. Medical facilities made with 3D Printing will be quicker and more efficient to provide services to patients.
R. The advent of a density property tax system should be enacted to create a much needed increase in property taxes in depleted low-income communities.
S. African based businesses in nations like Nigeria, Kenya, Ghana, etc. should be implemented here in the U.S. increasing the need for entrepreneurship with young adults in our community. This includes e-commerce and manufacturing to create industrialization both in Africa and the United States.
T. All Black citizens in the U.S. (African American, African, Caribbean, Afro-Latino) should dump both Democratic and Republican Parties in the U.S. and leverage their voting power based on 21st century public policies that will benefit our interests first not the interests of White liberals and conservatives. Part of those interests include strong economic, health, educational and technology platforms.
U. We must begin to build renewable energy technology via renewable energy parts (solar panels, etc.) in our local communities to not only use locally but export globally to deepen the supply chain system.
All urban communities must be digitalized locally and leverage itself to do business globally with the African Diaspora.
None of what I shared here will work without our WOMEN being heavily invested in moving this platform FORWARD.
No WOMEN EMPOWERMENT no 21st CENTURY ECONOMIC DEVELOPMENT!!
Furthermore, what we plan here in the U.S. we can do in the African Diaspora. Period.
#GoGlobal
Respectfully,
Akindele Akinyemi
President and CEO
Global African Business Association (GABA)