LOS ANGELES, May 23, 2013 /PRNewswire-iReach/ -- A bold and ambitious plan has been initiated which calls for African Americans to invest $100 billion in Africa annually. The author of the initiative will forward an advance copy of the plan and White Paper to South African President Jacob Zuma, African Union Chairman and Ethiopian Prime Minister Hailemariam Desalegn, and African Union Commission Chairperson Nkosazana Clarice Dlamini-Zuma. According the Selig Center at the University of Georgia, this represents less than 10% of African American consumer spending (http://www.reachingblackconsumers.com/2012/04/black-buying-power-continues-to-rise/). The author began to formulate the groundbreaking initiative after talks with African National Congress Canadian head Peter Mahlangu during the apartheid era, and through field testing and real world modeling has devised a blueprint that drastically changes African Americans relationship with Africa. The White Paper indicates that if these changes are not adopted the current diaspora efforts lead by President Zuma and documented by a noted African scholar in Hong Kong will fail (http://www.bbc.co.uk/news/world-africa-22169474).
According the Central Intelligence Agency's (CIA) World Factbook, African Americans would be the 17th wealthiest nation on Earth based their consumer spending out of 229 ranked by the spy agency ). The CIA report indicates that African American consumer spending dwarfs the Gross Domestic Product (GDP) of wealthy global powerhouses such as Australia, Switzerland, Saudi Arabia, and Sweden. Economist put the current African American GDP at $2.25 trillion (USD) growing to $2.6 trillion (USD) by 2017, larger than France and Russia at number 10 and 7 respectively. The plan calls for the total Black American investment in Africa to reach $230 billion by 2017, with $110 billion being directed grants. The plan will create thousands of new African and African American millionaires, dozens of new billionaires, and elevate the poor to the middle class.
Corporate advertising studies such as "Facts About Blacks" and Clear Channel Urban indicate that African Americans send hundreds of billions of dollars to countries such as Lebanon, Canada, South Korea, and Iraq annually without any benefit. The same reports cite African Americans as spending less than 7% of their total consumer income with African or African American businesses. U.S. Bureau of Labor Statistics indicates that the $1 trillion in consumer spending creates between 29 million and 50 million jobs. Additionally Reuters reports that African Americans donate $11 billion to charities annually, yet Black communities receiving no visible benefit from this largesse (http://www.reuters.com/article/2012/02/23/usa-blacks-donors-idUSL2E8DN3L120120223). The plan calls for the $11 billion to be redirected in a mutually beneficial way to African and African American joint ventures that would end many of the ills plaguing both societies in areas such as crime, infrastructure, clean energy, innovation, business ownership, advanced education, wildlife conservation, healthcare, and employment.
The plan's conclusions are supported by the successful role that Chinese and Indian Americans have played in the rise of China and India as global economic powers. According to www.mint.com the $1 trillion plus dollars African Americans spend annually is enough to buy every stock on the Toronto stock exchange, or buy every sports team on Earth, or fund the military of every country in NATO. Google Finance data shows that African American consumer spending is greater than total value of Apple, Google, Facebook, and Microsoft stock combined.
The plan will move into full implementation at an invite only conference of African and African American scholars, business owners, and government officials. Several open events and the website www.thepowerof1trillion.com will present the complete blueprint of the innovative initiative. The plan's author is being closely advised by a prominent African scholar.
Jerome Almon Preact Don't React, 323 834 2372, firstname.lastname@example.org
News distributed by PR Newswire iReach: https://ireach.prnewswire.com
SOURCE Preact Don't React