News from Davos that the elites at the WEF meeting regard Africa as “ripe for business creation, integration and expansion” should be regarded with scepticism and concern, particularly as their objective is “transition to a new single market” (Business Report, 19 January).

To what extent this initiative is supported by the majority of Africa’s 54 states is doubtful given their poor attendance in Davos this year. But what needs to be understood is that the concept of an African continental free trade area as mapped out by the global CEOs is going to be anything but free.

This becomes apparent when the likes of BlackRock CEO Larry Fink and Citibank CEO Jane Fraser see Africa as “the next big possibility.” Global ownership of South Africa provides a case in point as global giants like Pepsico cherry-pick businesses like Pioneer Foods. Black Rock has growing investments in our banks. Dutch company Heineken has just acquired liquor giant Distell. Illovo Sugar was bought by a British company in 2016. The majority ownership of Clover is based in Israel. Walmart owns Massmart which owns Game, Makro, Builders, and Cambridge Foods.

The trap in this direction is that free enterprise is progressively marginalised as global conglomerates squeeze and dominate the market. The corollary of that direction is greater unemployment as the retail giants cut overheads through automation and mechanisation. Opportunity for small-scale businesses and start-ups wilt in the face of market domination by globalists.

The fact that globalists are prepared to pour billions into Africa should not be construed as altruistic. Their strategy is exploitation, domination, and ownership. That is the core purpose of the World Economic Forum – global economic control through a network of globalist giants such as Pepsico, BlackRock, Pfizer, and Rothschild.  National sovereignty is reduced to tokenism.

The end goal is consolidated global ownership by the elites of the WEF. “The masses,” as chairman Klaus Schwab has stated, “will own nothing.”

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