🔅 Debunking Myths About African Migration
🎧 Mapping Africa’s Rhythm Worldwide & Crypto Stablecoins and Africa
Good Morning from Mali!
Migration Myths: Debunking 5 Common Misconceptions About African Migration
In today's heated political climate, the topic of migration from Africa to Europe has become a veritable powder keg, ready to explode at the slightest provocation. But amidst all the inflammatory rhetoric and fear-mongering headlines, it's easy to lose sight of the facts.
As Vit Novotny, a migration researcher at the Wilfried Martens Center for European Studies, aptly puts it: "There are few topics for which public opinion and the facts are so far apart."
So, let's put on our myth-busting caps and dive into five common assumptions about African migration that deserve a closer look.
Myth #1: "All African migrants want to come to Europe"
Reality check: While the number of African migrants has indeed increased by 30% between 2010 and 2020, the vast majority (about 80%) remain within the African continent, moving to neighbouring countries. They're not all clamoring to storm the gates of Fortress Europe.
Myth #2: "Africa is a continent in crisis, especially affected by migration"
Not so fast! When you zoom out and look at the global picture, African migrants make up only 14.5% of the worldwide total, far less than the proportion from Asia (41%) or Europe (22.5%).
Myth #3: "Most African migrants are fleeing war and poverty"
Sure, Europe takes in many asylum-seekers from Africa, but the majority of migrants come for economic reasons, such as work, study, or family reunification. In fact, only 8% of African migrants in the EU are refugees. The rest? They're probably waiting at the airport gate with their passports and tickets, like any other traveler.
Myth #4: "Migration of skilled workers will lead to a brain drain for Africa"
This one is a complicated one. While the initial emigration of young, qualified adults might seem like a loss for African countries, these migrants often contribute to their home countries' development in the long run through remittances and knowledge transfer. Remittances alone equal the total from official development cooperation and direct foreign investment combined.
Myth #5: "Climate refugees will soon overrun Europe"
Despite the apocalyptic headlines, studies show that people affected by climate change often try to adapt and stay in their home countries rather than moving far away. Migration is expensive, and many of those hit hardest by climate disasters lack the resources to undertake such a journey.
Misconceptions about African migration can have real-life consequences. Policies based on feelings rather than facts can undermine trust between Africa and Europe. It's time to ditch the one-dimensional "Lampedusa" narrative and start considering migration from Africa in a more nuanced way. Let's strike a balance between facts, public opinion, and politics – because, as Delapalme says, "If there are only two of these elements, it doesn't work."
Mapping Africa’s Rhythm Across Centuries 🎧
British-Egyptian historian Dr Hannah Elsisi is on a mission to answer a deceptively simple question: "Can you own a rhythm?"
It's a question that's been on her mind ever since she came across a 2023 US lawsuit filed by Jamaican dancehall production duo Steely and Clevie. They claimed their 1989 track "Fish Market" originated the dembow rhythm that's since become a staple of reggaeton and countless pop productions (listen to it above and you’ll understand why). Over 1,000 songs using a version of that rhythm, some by the most streamed artists in the world like Bad Bunny and Drake, have been targeted in the ongoing copyright case.
This got Elsisi thinking about how and where rhythms are founded, and "how music itself can be an archive for histories that aren't written." As she puts it, "When we move, owing to war, economic crisis, slavery or other factors, we bring music that mutates into new culture. It bears a trace of our history. Yet the lineages of these sounds haven't been accounted for."
Enter Chromesthesia, an independently released compilation album and a forthcoming 13-hour performance at Le Guess Who? festival in Utrecht. Elsisi contacted some of her favourite producers and musicians from across the African diaspora, spanning 20 locations including Egypt, Kenya, Brazil, South Africa, America and England, with the aim of "mapping centuries of movement and resistance as they have been inscribed in sound."
The project began with a series of residencies in late 2023, where producers came together in Italy and Egypt to simply share playlists of their favourite music. "There was no pressure to make anything, it was just about listening to each other," says Elsisi. "But they soon began recognising similarities and interests and once they left, they kept the relationship going to make new music. We ended up with a record made in 25 cities around the world."
The resulting nine tracks of Chromesthesia: The Colour of Sound, Vol 1 deliver an unpredictable cacophony of rhythm, traversing bass-heavy reggaeton, echoes of dubstep, trance-influenced Venezuelan raptor house and eerie free jazz. It's the opposite of ethnomusicological collections of field-recorded folk sounds: it's loud, fuzzy and full of gut-shaking bass. 🔊
Crypto Stablecoins: Trying to Solve Africa's Dollar Dilemma
Meet Chris Maurice, the founder of Yellow Card, a crypto trading firm that's taking Africa by storm. Back in 2017, as a fresh-faced finance major at Auburn University, Maurice had an epiphany while chatting with a Nigerian guy in line at the bank.
The Nigerian was trying to wire a measly few hundred bucks to his mom, but the bank was about to charge him a whole $90 for the privilege. For a Bitcoin buff like Maurice, this was the perfect problem for cryptocurrencies to solve.
Fast forward to today, and Yellow Card is a crypto powerhouse, employing 270 people across 20 African countries and trading over $3 billion worth of crypto just this year alone. But it wasn't an easy road to success.
When Maurice first pitched the idea to venture capitalists, he was met with skepticism. As he puts it, "I couldn't even make up a sentence that could raise more red flags in the finance industry than 'I sell Bitcoin in Nigeria.'"
But persistence paid off, and Yellow Card eventually landed backing from heavy hitters like Jack Dorsey's Block Inc. and Peter Thiel's Valar Ventures.
The Secret Sauce is Stablecoins: It turns out the real demand wasn't for Bitcoin, but for stablecoins—crypto tokens designed to track traditional currencies like the US dollar. Maurice discovered that multinational corporations were struggling to convert their local African currency revenues into dollars, thanks to years of unorthodox forex management by African governments.
Through Yellow Card, companies can buy stablecoins like Tether – dollar-pegged tokens with local currencies – send them abroad, and redeem them for real dollars, all without tapping into scarce local US dollar reserves. It's a clever workaround that's attracted clients ranging from Coinbase to Elon Musk's Starlink.
Of course, stablecoins aren't without their risks. Tether, the $128B gorilla of the stablecoin world, has faced questions about its reserves and is reportedly under US investigation for potential sanctions and anti-money laundering violations.
Most big banks won't touch stablecoins with a ten-foot pole. But for market makers like Yellow Card willing to wade into these risky waters, the potential rewards are huge - spreads tens or even hundreds of times wider than in traditional forex.
As adoption grows, African governments are keeping a wary eye on stablecoins, concerned about potential capital flight and currency manipulation. Some countries like Ethiopia have banned crypto trading outright.
Navigating this complex regulatory landscape hasn't been a cakewalk for Maurice. But he remains bullish on the opportunity.
Food for Thought
“Strength does not correspond to knowledge.”
— Kenyan Proverb