Africa’s youngest democratically elected president signals a new dawn for the continent: Justice Malala

Bassirou Diomaye Faye's ascent to the presidency of Senegal, becoming Africa's youngest democratically elected leader at 44, marks a pivotal moment. His victory signals a warning to former colonial powers, an inspiration for young leaders, and a trend toward pro-poor, anti-capitalist politics. Faye's commitment to national sovereignty and economic renegotiation echoes sentiments across Africa, challenging Western influence. As Faye embodies a growing movement, Africa braces for a new era of change and self-determination..Sign up for your early morning brew of the BizNews Insider to keep you up to speed with the content that matters. The newsletter will land in your inbox at 5:30am weekdays. Register here..By Justice Malala.The rise of Bassirou Diomaye Faye to Senegal's presidency, making him Africa's youngest democratically elected leader at 44, is not just a historic moment. It is a warning, an inspiration and a trend that may shape the continent's politics for decades to come. .___STEADY_PAYWALL___.A warning, because it puts former colonial powers and Western countries on notice that the call for African sovereignty is no passing fad, and that the Russia-China axis' diplomatic advances are proving attractive to the continent's leadership. An inspiration, because young leaders across the continent see themselves in the left-wing pan-Africanist's rise. And a trend, because Faye's victory and campaign themes underscore the growth of the pro-poor, sometime anti-capitalist, anti-imperialist calls that have animated military juntas, opposition parties and grassroots efforts from the coup belt of West Africa to democratic South Africa over the past 10 years..Faye's win is therefore a small, yet significant, step in the advance of a leaderless but growing movement. It is powerful because it came through the will of the people and not via a coup..In his inauguration speech on April 2, Faye said his country would remain open to relations with other countries that are "respectful of our sovereignty, consistent with our people's aspirations, and in a mutually winning partnership.".He has said that he intends to restore "national sovereignty" over key assets such as the oil, gas and fishing sectors by renegotiating Senegal's contracts with foreign-owned companies. He has also pledged to abandon or change the terms of the regional currency backed by France, the CFA franc..Read more: 🔒 Africa's year of elections displays a dissatisfaction with democracy – Ken Opalo.Similar calls to ditch reliance on Western currencies have been growing in Africa. The hostility toward the CFA could have come from any of the heads of the military juntas or finance ministers of neighboring Burkina Faso, Mali and Niger who have together started a process to drop the currency. Kenya President William Ruto has also asked African leaders to take first steps toward ditching the US dollar by signing up to a pan-African payments system to facilitate trade within the continent. And South Africa President Cyril Ramaphosa spoke about "increased use of local currencies" at the BRICS summit last year..The anti-imperialist message has also grown. Ibrahim Traoré, the 36-year-old Burkina Faso coup leader, was a sensation at the Russia-Africa Summit in Saint Petersburg last July after he delivered a fiery speech frequently quoted on social media across Africa.."We are the forgotten peoples of the world," Traoré said. "And we are here now to talk about the future of our countries, about how things will be tomorrow in the world that we are seeking to build, and in which there will be no interference in our internal affairs.".Another high-profile proponent of the movement represented by Faye's rise to power is Julius Malema, the controversial 43-year-old leader of South African opposition party the Economic Freedom Fighters (EFF). Malema is unique because he has influence and presence across the continent, with branches and representatives in parliaments in Namibia, Sierra Leone, Zimbabwe, Lesotho, Eswatini, Nigeria and Botswana..Read more: Duduzane Zuma swaps Dubai luxury for South African politics.Malema may be poised for power, with his party projected to be kingmaker if the ruling ANC loses its 30-year-old majority in elections scheduled for May 29. Should the ANC's support decline to the low 40% or 30% range, and it is unable to corral smaller parties into a multi-party coalition, it may be forced into coalition with the capitalist Democratic Alliance or the Marxist EFF (which enjoyed 10.8% support in 2019 and is projected to increase its support). The EFF is already in fragile coalitions with the ANC in the country's largest city, Johannesburg, and others. The ANC says it is not considering coalitions, but a decline to 40% may force its hand. Malema says a coalition with the ANC is possible..In such a scenario, the EFF in coalition with the ANC would adopt a policy stance not too dissimilar to Faye's in Senegal..So, what happens now in Senegal and the continent? Faye said his election expresses "a profound desire for systemic change.".That means oil and mining contracts will be up for renegotiation in a process not dissimilar to the De Beers-Botswana government diamond talks conducted last year, which resulted in Botswana progressing from receiving 30% to half of all diamonds that De Beers mines in the country..At his inauguration, Faye was interrupted by loud and enthusiastic cheers for the military ruler of Guinea and the representatives of Mali and Burkina Faso. Expect Faye to bat for these countries — all assisted by Russia's mercenary Wagner Group — to be treated with leniency by the Economic Community of West African States, opening the door for warmer relations with Moscow as France's influence is curtailed..These changes are not just in the offing in Senegal, but in jurisdictions across the continent where leaders like Faye are set to ascend. Many may not like it, but everyone must prepare for this new dawn..Read also:.Duduzane Zuma swaps Dubai luxury for South African politicsNicholas Woode-Smith on the EFF's dangerous influence: A threat to South African politicsBad blood between CR, Julius & Zuma should keep RET bloc out of power-share….© 2024 Bloomberg L.P.

Africa’s youngest democratically elected president signals a new dawn for the continent: Justice Malala

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