2022

According to Britannica (2022), industrialization in history refers to the process of change from an agrarian and handicraft economy to one dominated by industry and machine manufacturing. These technological changes introduced novel ways of working and living and fundamentally transformed society.  This process started in 18th-century Britain. From there, in it began to spread slowly worldwide. The question then begs, what made Great Britain unique enough to be the birthplace of the Industrial Revolution?  According to historians, several variables came together in Britain in the middle of the 18th century to create the ideal conditions for industry development (Study.com 2022). The following is an examination of a few of the variables above:  • Agricultural innovations: British farmers effectively used new agricultural methods and equipment to boost their output. Even enough food could be grown by fewer individuals to feed a sizable labour force. • Boom in population: Between 1750 and 1800, the population of Britain doubled. More people in the country could work in industries and buy made items. • Economic advancements: Britain had created a financial system, including a stock market and banks that could handle surges in economic activity. • New ideas and a scientific perspective: The British were explorers who valued scientific discovery and human growth. They were continuously learning new things about the way the world operated. • Foundations for transportation: Britain had several navigable rivers, good highways, and canals that could move goods from manufacturers to consumers and raw materials to factories. • Natural resources: Britain’s substantial coal and iron reserves provided the electricity needed to run new enterprises. • A willing government: The British government supported industry, promoted trade, granted patents to protect inventors, provided financial incentives to manufacturers, and maintained a laissez-faire attitude, well-liked by businesspeople. • Multiple colonies: It’s a touchy subject but having multiple colonies that were part of a commerce network provided raw supplies and a market for completed goods. Even though it took decades for the Industrial Revolution to spread, it was revolutionary because it fundamentally altered Europeans, their society, and their interactions with other people. Mass migrations from rural areas to metropolitan areas, where impersonal coexistence replaced the typical intimacy of rural life, were facilitated by the creation of massive enterprises. Higher productivity levels prompted a search for new raw material sources, altered consumer behaviour, and a revolution in transportation that made it possible to transport goods quickly across the globe.  As a result, traditional social ties underwent a significant transformation due to the development of an enormous industrial working class (or proletariat) and a prosperous industrial middle class in motion.  The change set in motion by industrialization ushered Europe, the United States of America and much of the world into the modern era. Several years on, some parts of the world, especially those from sub-Saharan Africa, appeared (appears?) to be lagging in terms of “development”. Yet, contrary to common belief, African manufacturing flourished at the turn of the 20th century, especially in the 1920s, while the continent was still a part of the British Empire.  Sub-Saharan Africa’s industrialization process took place in two stages:  1. the first stage, which was very early and stimulated by colonial people, began around the 1920s and ended in the late 1940s; and 2. the second stage started in the late 1950s and gained momentum in the 1960s when import substitution was widely used.  During this period, Tanzania, Zambia, and Nigeria started putting import substitution into practice on a large scale in the first half of the 1960s. Later, this strategy was put into practice, among other nations, like Ghana and Madagascar.  Until the 1980s, import substitution was observed in other Sub-Saharan countries. Industrialization in the latter period, like in Latin America, was a politically driven tactic to combat underdevelopment.  The Sub-Saharan region’s import substitution process followed the dynamic type of any import substitution process. A structural adjustment policy strongly disapproved of the industrialization system for the area. Due to this, that strategy lasted only until the second half of the eighties.  How that process occurred in African countries and why it was unsuccessful are still unknown. Take, for instance, Ghana after Kwame Nkrumah. Ghana’s first president adopted a policy of government-sponsored economic expansion. Later, many of his ambitious projects came crashing down as cocoa revenues, his primary source of foreign currency, plummeted along with the decline in global prices (Efam 2013). Several years on, and after several political turmoil and gimmicks, many strive to return to the “old glory”, which is now more than ever heightened (Agbozo et al., 2019).  See, for instance, the constant revamping of Ghana’s famous Komenda Sugar Factory. However, the most popular and somewhat ambitious import substitution via industrialization in recent times is the “One District One Factory” championed by the current Akufo-Addo lead Government.  The President of Ghana launched the One District One Factory (1D1F) project in 2017 to shift the country’s economy from one that is reliant on the sale of raw materials and the import of completed goods to one that is centred on manufacturing, value addition, and the export of processed goods.  As a result, critical raw materials that would have otherwise gone to waste are frequently located in areas with potential for manufacturing. Devoid of all the political gimmicks, the “One district One Factory” in principle has the following core principles: • Companies involved in the programme are private, government-supported businesses rather than state enterprises; • Companies that match the 1D1F requirements may be either new or established companies; • If several developers are interested in a specific location, there may be more than one enterprise in that district in Ghana; • In some circumstances, the government may enter into a Public Private Partnership (PPP) agreement with a strategic investor through the District Assembly; and • The Ministry of Trade and Industry, in collaboration with other Ministries, Departments and Agencies (MDAs) and District Assemblies, coordinates and administers the 1D1F project. Thus, according to John (2019), when all is set and done, the aim or the objective 1D1F initiative is; • To

Soy, often known as soja or soya bean, is the most popular plant-based protein source. It is also one of the most plentiful and inexpensive protein sources. Soya has become an essential part of daily life for people and animals in many parts of the world.  All the above stated, alongside the fact that it is one of the most traded goods on the planet, is why Soya is called the “the king of beans.” In terms of volume, soybeans and its by-products account for more than 10 per cent of global agricultural commerce.  It is in many foods and other non-edibles, like cooking oil, milk, soy oil and other food products. Soya also has industrial uses like its role in the making of some biodiesel.  Secondly, only to palm oil, soybean oil is the most extensively used cooking oil in the world. Studies show that the “king of beans” is an essential export item for several countries.  According to the 2020 global market study of the International Institute for Sustainable Development (IISD), 150.1 million metric tons of soybeans worth $58 billion were shipped in 2017. It was also estimated that the sector’s overall (retail) market value was around $146 billion. Despite all these, less than one per cent of the world’s soy was grown in Africa. In the 1850s, soybeans were brought to Africa, and in 1858, they were first grown in Egypt. Today, 47 of Africa’s 54 nations cultivate soybeans. Since 2020, the soy market in Africa has increased significantly. In general, consumption has increased.  As a result, production has reached its peak and is expected to grow. Togo, Ethiopia, and Malawi were Africa’s top three exporters of soybeans, accounting for about 60% of total exports in Africa. The remaining circa 40% was contributed by Uganda, Nigeria, Ghana, and others.  Let’s take Uganda as an example. Uganda is becoming an ever more important source of soybeans for the continent. Since 1990, Uganda’s Agricultural Research Institute has been researching and making new soybean varieties to meet Ugandan farmers’ needs. This aids Uganda’s economy, contributes more than $45 million a year, and grows about 23,000 metric tons of soybeans yearly. The country has also invested in facilities that turn raw soybeans into products such as soybean oil, soy cake, and animal feed. Potentials within exports and profits are declining, which may be traced back to the many difficulties plaguing Africa’s agricultural sector. Some of them are lousy infrastructure, lack of financial capital for farmers, bad marketing, inadequate technology, high manual labour within our farming models, low sector investment, the majority of farmers being smallholders, losses after the harvest, not having a guaranteed market, and crop diseases, etc.  Soya Bean’s nutritional and health advantages are well known, but the economic benefits to local farmers and consumers are just as significant. It opens up prospects for employment and financial gain throughout the nation and reduces poverty; this is very practical for farmers. Given that this crop has a lot of economic potentials and helps in many ways, it is essential for our governments, in particular, to help solve these problems so that African countries can get the most out of the crop. Africa has been noted as an excellent place for soy, and there are signs that the market is already growing. Governments must look into and fix the problem of not having a secured soybean market. If the country had a guaranteed need, it would go much better. Production and income would go up, and many new jobs would be created. So, if governments want to solve this problem, they must emphasise working with private sector actors at home and abroad. Mature soybeans may be a source of income, but that’s not all they’re good for. They have numerous health benefits as well: 1. Its high fibre content reduces the risk of colon cancer by promoting regular bowel movements and better digestive health. 2. Its minimal carb content and very low glycaemic index make it a beneficial nutritional addition for people with diabetes. 3. The high levels of copper and iron in soybeans help build red blood cells, lowering the risk of anaemia and increase oxygen delivery to cells to fuel the body’s metabolism. 4. Soybean, when consumed in small amounts, has appetite-suppressing qualities and may facilitate weight reduction. Moreover, its high protein content makes it an oil seed that may aid in mass growth. Because of this, it may help in the control of excess weight. 5. It regulates metabolic processes that enhance the quality and length of sleep because of its high magnesium concentration. 6. Glycaemic control and management in Type 2 diabetes are aided by soybean since it helps enhance the body’s function of insulin receptors. 7. Vitamins and minerals are full of bone- and immune-boosting zinc, magnesium, copper, and selenium. In addition, folate, Vitamin K, Molybdenum, Phosphorus, and Thiamine may all be found in soya. 8. Soybean’s high polyunsaturated fat content helps improve cardiovascular health and lowers the risk of cardiovascular events like strokes and heart attacks. 9. The United Soybean Board and the Soy Nutritional Institute of California are funding new research into its anti-wrinkle effects. 10. Eating soybeans may help your brain’s health since they increase blood flow. 11. It may also aid with menopausal discomfort. Producing soybeans successfully in Africa requires a country to adopt strategies with Environmental, Social and Governance (ESG) measures at its core, work towards utilising Sustainability Development Models to bring forth equitable and sustainable results, capitalise on the continental infrastructure and build relevant relationships between the public and private sectors within the agricultural spaces of African markets. ♕ —- ♕ —- ♕ —- ♕ —- ♕ I hope you found this article insightful and enjoyable. Subscribe to the ‘Entrepreneur In You’ newsletter here: https://lnkd.in/d-hgCVPy.  I wish you a highly productive and successful week ahead!  ♕ —- ♕ —- ♕ —- ♕ —- ♕ Disclaimer: The views, thoughts, and opinions expressed in this article are solely those of the author, Dr. Maxwell Ampong, and do not necessarily reflect the official policy, position, or beliefs of Maxwell Investments

The term “social impact era” may very well be new to some and very familiar to others. It first began to gain global popularity during or around the time of the global financial crises between the years 2007 and 2009. These financial crises occurred when banking systems and global financial markets underwent a never-before great deal of tension and pressure. The actual cause and catalyst were the US housing markets crashing and coming to what appeared to be an abrupt and shocking halt. It was recorded that millions and millions of people lost their jobs all in one fell swoop. In addition, several banks worldwide had to rely on their governments for fiscal and financial bailouts to avoid nearly equally destructive bankruptcy issues. This was the most severe global economic shakeup since the Great Depression in the 1930s. (The Global Financial Crisis | Explainer | Education, n.d.) Now that we know the core impetus that sets the world of social impact in motion let us examine what it is.  WHAT IS SOCIAL IMPACT? Social impact occurs when activities, projects, or programs create a positive change in the lives of people, usually low-income people, within a community. This positive impact ideally tackles and ameliorates or solves a crucial social challenge.  Social Impact rarely occurs through fate or sheer luck – it is a structured, intentional, well-executed list of activities with lucid goals to meet and a theory of change to prove.  Social Impact plays an exceedingly crucial role in ensuring that low-income communities and Persons of Concern (including asylum seekers, people living below minimum wage, refugees, stateless people, unaccompanied minors, migrants, et cetera) are given back their agency, have their human dignity restored to them, and are afforded opportunities that are often purposed to facilitate economic inclusion and social cohesion.  In short, social impact is clutch for those who may be temporarily or situationally brought low in society. But, of course, this also applies to deprived/low-income communities. WHY IS SOCIAL IMPACT NECESSARY? Social impact is not simply another captivating term that happens to be in vogue for the time being – It is certainly not about to disappear around the bend at the slightest push. Au contraire, it is here to stay!   Social impact has several arms and interests across a plethora of industries and within a myriad of offices (big and small) all over the globe. Even within the business of the corporate world, social impact is often in the form of ESG (Environmental, Social, and Governance). Now ESG defines, measures, and tracks a company’s adaptability, confluence, and contribution to some of the world’s most pressing issues in the areas of the environment.  ESG metrics are used by socially conscious investors who, through these (ESG) metrics, can better determine where or with whom to invest  (for the continued benefit of Persons of Concern and low-income or impoverished communities). The CFA Institute had the following to say concerning investors and ESG investing:  “Investors are increasingly applying these non-financial factors as part of their analysis process to identify material risks and growth opportunities. ESG metrics are not commonly part of mandatory financial reporting, though companies are increasingly making disclosures in their annual report or in a standalone sustainability report. Numerous institutions, such as the Sustainability Accounting Standards Board (SASB), the Global Reporting Initiative (GRI), and the Task Force on Climate-related Financial Disclosures (TCFD) are working to form standards and define materiality to facilitate the incorporation of these factors into the investment process“ (ESG Investing and Analysis, n.d.) THE IMPORTANCE OF THE CRAFT? The works of social impact include things such as social justice matters. Most of them include:  ANYONE CAN INFLUENCE SOCIETAL IMPACT. Practically, anyone can become a catalyst for social impact. One only needs to look around them and systematically or structurally solve societal issues. You could tackle climate change issues through self-organizing to plant 1000 or 100 trees in your city or town, or village. You could organize weekly food giveaways for homeless people.  You may unite your neighbourhood to build neighbourhood libraries worldwide for children from disadvantaged backgrounds. It merely requires making a list of kid-friendly books and committing to purchase them within predetermined time frames. However, you can create a child-based community health awareness program that runs in cycles and incorporates practical education by reintroducing fruits as a regular part of your children’s diets, thoroughly explaining the health benefits of each individual fruit, and setting up a reward system (for your children) for when they educate another child in the same way. CONCLUSION Ashoka, the social change-focused organization whose founder, William “Bill” Drayton coined the term “social entrepreneur“, believes that everyone can be a change-maker. Unarguably, everyone can be, either directly or indirectly. One only needs to observe, listen, and decide what needs to be altered before addressing the problems recognized using a systematic or structured method. ♕ —- ♕ —- ♕ —- ♕ —- ♕ References The Global Financial Crisis | Explainer | Education. (n.d.). Reserve Bank of Australia. https://www.rba.gov.au/education/resources/explainers/the-global-financial-crisis.html ESG Investing and Analysis. (n.d.). CFA Institute. https://www.cfainstitute.org/en/research/esg-investing UNHCR Global Trends 2010. (2010). https://www.unhcr.org/4dfa11499.pdf The Largest Refugee Crises to Know in 2022. (2022, April 25). Concern Worldwide. https://www.concernusa.org/story/largest-refugee-crises/ Richardson, A. V., Humphry, J., Wright, C., Bloom, P., Harris, L. M., Lamb, C., Lentin, A., Simien, E. M., Klein, A. G., Williams, C., Cassese, E. C., Inwood, J. F. J., Ray, R., Alderman, D. H., & Perliger, A. (2022, May 15). Racial violence News, Research and Analysis. The Conversation. https://theconversation.com/nz/topics/racial-violence-15604 Childhood Overweight & Obesity | Overweight & Obesity | CDC. (2022). Centers for Disease Control and Prevention. https://www.cdc.gov/obesity/childhood/index.html World Bank and WHO: Half the world lacks access to essential health services, 100 million still pushed into extreme poverty because of health expenses. (2017, December 13). World Health Organization (WHO). https://www.who.int/news/item/13-12-2017-world-bank-and-who-half-the-world-lacks-access-to-essential-health-services-100-million-still-pushed-into-extreme-poverty-because-of-health-expenses ♕ —- ♕ —- ♕ —- ♕ —- ♕ I hope you found this article insightful and enjoyable. Subscribe to the ‘Entrepreneur In You’ newsletter here: https://lnkd.in/d-hgCVPy.  I wish you a highly productive and successful week ahead!  ♕ —- ♕ —- ♕ —- ♕ —- ♕ Disclaimer: The views, thoughts, and opinions expressed in this article are solely those of the author, Dr. Maxwell Ampong, and do not necessarily reflect the official policy, position, or beliefs of Maxwell Investments Group or any of its