Influential politicians at the global level may soon lost their position of power if the Lumi currency is fully integrated in the world’s economy.
These so called world leaders became famous and powerful only by deceit and scheming from developing nations mostly from Africa.
They go as far as stirring war in many countries with Libya being one of such examples. What they’re simply doing is to come in between the national unity of a particular country most times by using an opposing force. They come in form of aid or assist the most popular opposition leader to break the national unity.
This, Yoweri Museveni uncovered as the reason why Bobi Wine gained popularity not just within Uganda but internationally during the last presidential election.
In this article, newsway carefully examine some of these leaders, what makes them so powerful and how the Lumi currency and implementation of the Africa Continental Free Trade Agreement (AfCFTA) may affect their leadership position.
1. Queen Elizabeth the II:
Queen of the British Isle and the Commonwealth realm will definitely not be comfortable with the sudden economic transformation in Africa but particularly within the ECO-6 Region where she still have control as the head of State of many Caribbean nations. These countries are Jamaica, Bahamas, St. Lucia, St. Kitts and Nevis and St. Vincent and the Grenadines.
The Monarch may lose control over these young nations and as such her position of honour may be affected negatively.
2. Joe Biden:
The America’s President Joe Biden is the World’s most powerful leader. This is because he occupies an official that controls the world’s economy. Most fiat currencies in the world are pegged against the US Dollar making it a strong currency with global acceptability. America alone finance 50% of UN financial implications, a commitment which former President Donald Trump slashed to 30% and cut down up to 40% of its (USAID) assistance to mostly Islamic countries.
America has a dominant and permanent role in the United Nations (UN) security council which other developing nations only vote in for a term.
Now, Joe Biden will have to face a tough time if Africa stops the exportation of raw minerals as captured in the AfCFTA and his leadership position will face a lower coverage because Lumi currency seeks to take a global acceptability pace and may replace the US Dollar if Africa stops the exportation of raw minerals. Foreign economies that depends on Africa’s wealth to remain in that global leadership may suffer setback.
3. Xi Jinping:
The Chinese economy does not rely on the Africa’s exported raw minerals but Africa remains the largest market for their products. As estimated in the AfCFTA Africa has a market of 1.2 billion people which remains the highest consumer of Chinese tech products.
Under the Africa Continental Free Trade Agreement (AfCFTA) The African Union want the six regions of Africa to exchange goods and services within themselves. Africa should be a manufacturer and stop being a consumer and this will definitely affect the Chinese economy.
4. Emmanuel Macron:
The french president may also be affected by this economic transformation currently going on in Africa. France depends solely on the crude oil exported from Africa and the middle east.
McPherson in his keynote address during the Lumi’s first year anniversary said “Africa must stop refining crude in Europe” he added that the continent’s crude can be refined in the Caribbean and at a cheaper cost.
This development will affect France because Africa alone will cut-off supply of 60% of its crude thereby making Macron less relevant on the global stage.
5. Vladimir Putin:
The Russian President may also have a setback when the AfCFTA takes proper shape and Africa becomes the manufacturer of arms and ammunition.
Africa remains the best market for Russian made arms and ammunition. In 2010 Libya under Gaddafi signed a $1.3 billion arms deal with Russia before he was killed. In March of 2019 Egypt also signed another arms procurement deal with Russia worth $2 billion which saw Egypt acquiring “Sukhoi SU-35 fighter jets.
African countries under this agreement wants to be self dependent rather than relying on foreign aids. So they will become a manufacturer of these high tech machineries and a significant reduction in procuring from Russia will be achieved.
South Africa’s ties with Russia in arms production may also be reviewed if not a total termination of it.
A significant decline in arms acquisition from Russia may negatively affect Vladimir Putin at the global level.
6. Olaf Scholz:
The German new chancellor just like his Russian counterpart may lose supply of Arms to Africa.
Just like Russia, Germany export arms to Africa and also depends on African crude oil to meet up the country’s demand.
Germany’s acting consul general in Nigeria acknowledged that Nigeria alone supplies 70% of crude oil to Germany on monthly basis. Buhari has already awarded contracts for the rehabilitation of the three refineries in the country, a measure aimed at reducing exportation of crude oil. These measures may affect Germany directly.
The fully integration of the Lumi currency will not only settles Africa’s debts but also sets Africa at the forefront of the global economy.
