Connect with us

Op-Eds

A Word of Caution to African Investors: Bitcoin Is Worth Zero

6 min read.

The failure of Bitcoin as an investment arises from the fact that it is a no-yield asset that is highly volatile and untested.

Published

on

A Word of Caution to African Investors: Bitcoin Is Worth Zero
Download PDFPrint Article

Bitcoin has received and continues to receive a lot of fervent support. Its unsteady yet linear ascent from a paltry $0 in 2009 when it was first created, to a $66,000 peak in 2021 is a testament to this fact. These sterling developments beg the question: why is Bitcoin so popular and what exactly does it do for us? Is it really all that it is made up to be or is it just a passing fad?

Dispassionate investigation into this subject led this author to the sobering conclusion that Bitcoin is definitively worth zero. This conclusion might be confusing to some – disappointing even – because the prevailing zeitgeist paints Bitcoin as a harbinger of unparalleled socio-economic revolution.

Contra this colourful prognosis, emerging truths now reveal that Bitcoin is structurally incapable of delivering on its bold promises. Bitcoin fails as a currency, as an investment, as a store of value and as a hedge against inflation – all of which have been touted as unique selling points of this nascent piece of technology. This write-up will dive deep into each of these issues and in the process dispel the erroneous belief that with Bitcoin we are on the cusp of something revolutionary. This discussion couldn’t be any more timely considering that globally Africa currently has the highest cryptocurrency adoption rate with countries like Nigeria, Kenya, Tanzania and South Africa leading from the front.

Having set the agenda, let us begin. Bitcoin fails as a currency because of two things: volatility and scalability concerns. In its 12 years of existence, Bitcoin has maintained extremely high levels of volatility i.e. 60 per cent to 100 per cent annualized. Contrast this with the US dollar, which has an annualized volatility of 17 per cent. This mercurial nature of the digital coin is problematic given that for anything to be considered a currency it has to exist within certain bounds of stability. Anything that moves 5 per cent a day, 30 per cent a month — up or down — cannot be a currency.

Pundits have tried to peg Bitcoin’s volatility to the fact that it is still in its early adoption phase. When it becomes widely accepted and new investors come on board it will settle, they say.  This sounds like a fair argument until you run the numbers and realize that at higher levels of capitalization, Bitcoin’s volatility compounds. Simply put, the more people buy Bitcoin, the more unstable it gets.

The scalability issue, on the other hand, is quite straightforward. Bitcoin’s high energy consumption levels (700 KWh per transaction) render it incapable of satisfying the day-to-day monetary needs of entire populations. That and the fact that it is also painfully slow. It takes on average 10 minutes for a transaction to be verified on the Bitcoin network. This means that if you decide to buy a cup of coffee on the side of the road, you would have to wait a whole 10 minutes for the transaction to be completed.

The more people buy Bitcoin, the more unstable it gets.

Attempts have been made to resolve this problem without undermining the integrity of Bitcoin’s infrastructure under the “Lightning Network” project without any due success. Vitalik Buterin, a co-founder of the cryptocurrency Ethereum, notably stated that no crypto can be safe, scalable and decentralized at the same time. He called this the “Blockchain Trilemma”.

Surprisingly, there have been claims that Bitcoin is extensively used as a currency in El Salvador. This is very misleading. The dominant currency and unit of account in El Salvador is still the US dollar. The use of Bitcoin in that country is primarily for remittances by citizens working abroad to their families back home. These citizens rely on Bitcoin for cross-border money transfers to avoid the high costs that come with such transactions, and also because most citizens of El Salvador, i.e. 70 per cent, don’t have bank accounts. This does not make Bitcoin a currency. It is also worth noting that because of its volatility, Bitcoin is not a reliable medium for cross-border money transfer.

The failure of Bitcoin as an investment arises from the fact that it is a no-yield asset. This means that investors have no expectations of making any future earnings except through engaging in zero-sum games with other speculators. Warren Buffet, one of Bitcoin’s biggest critics, weighed in on this saying, “If you buy something like Bitcoin, you don’t have anything that is producing anything. You’re just hoping the next guy pays more. And you only feel you’ll find the next guy to pay more if he thinks he’s going to find someone that’s going to pay more.”

Basically, sentiment is what drives Bitcoin’s price action. The coin itself has no intrinsic value – it is worth zero. Therefore, given the foregoing, referring to Bitcoin as a pyramid scheme would not be too farfetched. A common rebuttal to this point by economic dilettantes is that the stock exchange might as well be considered a pyramid scheme because people buy low hoping to sell high to the next person. This is a poor comparison because companies listed on the exchanges are actually producing something. Ergo, investors can expect returns on their investments without having to speculate in the markets.

The failure of Bitcoin as an investment arises from the fact that it is a no-yield asset.

Moving forward, Wikipedia defines a store of value as “an asset that can be saved, retrieved and exchanged at a later time, and be predictably useful when retrieved. More generally, a store of value is anything that retains purchasing power into the future.” In simple terms, a store of value is a place to safely put your wealth where it won’t depreciate. Traditionally, gold and silver have been used as the preferred stores of value because of their long-term stability, durability and desirability.  So, why can’t Bitcoin match or even supplant gold as the preferred store of value? Simply because it is volatile and untested. These two factors take Bitcoin out of the running.

Get this: on May 19th 2021, Bitcoin dropped by 31 per cent in a matter of hours after Tesla CEO, Elon Musk, publicly voiced his concerns over its enormous energy consumption levels. These sudden drawdowns are exactly why Bitcoin makes for a terrible store of value. A true store of value does not drop by 54 per cent in 1 month, as Bitcoin did in the May-June period.

Secondly, Bitcoin fails as a store of value because it is untried and untested, having been in existence for only 12 years. Compare this with gold, which has been a constant fixture of human civilization for over 5,000 years. The transient nature of technology makes it difficult for us to know for how long Bitcoin will be around. What happens to investors’ wealth if a better alternative to Bitcoin materializes in the next 5 years? Evidently, redundancy is a real risk.

Bitcoin has also been presented as an all-encompassing solution to printer-happy governments notorious for increasing the general money supply whenever they feel like it. These actions usually cause inflation and lower the purchasing power of money, thereby leaving ordinary citizens in dire straits. Since the total supply of Bitcoin is capped at 21 million tokens, governments can’t print any more of them, alas. Inflation problem solved, right? Not quite.

A true store of value does not drop by 54 per cent in 1 month, as Bitcoin did in the May-June period.

While the attempts to end years of state-sanctioned madness are admirable, the notion that Bitcoin is a hedge against inflation is mostly false. The two variables are unrelated. Bitcoin only responds to capital inputs from its adherents, meaning that it marches to the beat of its own drum. Think about it like this: what would happen if, during a recession, investors responded by moving their money out of Bitcoin into safer assets? After answering this question how can you then, in good conscience, still regard Bitcoin as a reliable hedge against inflation?

On a different plane, I would like to address an unsettling observation I made about the Bitcoin community. Many of these investors are, for the most part, oblivious of the financial risk to which they have exposed themselves. To them, Bitcoin is an infallible colossus, and anything outside of that reality is simply ignored. The half-truths and hive mind-set that has entrenched itself in the crypto space is to blame for this major lapse in judgement. This insidious monoculture has ensured that any attempts to question Bitcoin’s legitimacy are met with strawman arguments, hostility and sour rejoinders. How unfortunate. Perhaps the sagacity of Nassim Nicholas Taleb, an eminent risk analyst, will help get through to this unwavering crowd: “When you invest you must focus on what can go wrong, not what can go right.”

According to market predictions, Bitcoin is expected to hit the US$100,000 mark in the near future. Whether that happens or not has no bearing on the intractable truths articulated here. Bitcoin’s worth is still zero, and one day the bubble will pop. This could happen tomorrow, or fifty years from now. Nobody really knows when.

The main take away from all of this is that you don’t want to be the dupe left clutching at their pearls when it happens.

Support The Elephant.

The Elephant is helping to build a truly public platform, while producing consistent, quality investigations, opinions and analysis. The Elephant cannot survive and grow without your participation. Now, more than ever, it is vital for The Elephant to reach as many people as possible.

Your support helps protect The Elephant's independence and it means we can continue keeping the democratic space free, open and robust. Every contribution, however big or small, is so valuable for our collective future.

By

Mwotia Ciugu is a PR and Communication strategist based in Nairobi.

Op-Eds

Educating the Native and the Ivy League Myth

Elite schools in the US continue to place a premium on institutions, not ideas. Where you went to school is what matters.

Published

on

Educating the Native and the Ivy League Myth
Download PDFPrint Article

As a young student, I was always fascinated by the “top” universities and the erudite people that emerged from those august institutions. My first contact with Ivy League people was when I arrived at Mpala Research Centre in Laikipia in 1999 to start my MSc research. I met students and faculty from Princeton University (which is a trustee of the research centre) and was reassured that they looked “normal”, given all the academic challenges and foibles that a Kenyatta University student like me had. After I finished my MSc, the administration was impressed enough with my work to offer me a job as resident scientist, which I took up with the alacrity of someone catching a big break through hard work (I got a rude awakening later, but that’s a story for another day). As part of my job, I was to supervise a group of Princeton undergraduates undertaking a senior field project and, wanting impress, I sharpened my ecologist brain, especially because I thought I would be instructing some of the world’s sharpest young minds. Now I laugh at my consternation when, after mapping out clear and easy ecological transects for them, they strayed off into a neighbouring ranch and I got a call from the security personnel there that they were sunbathing topless on the research vehicle (they were ladies) and that the boss might be offended.

Later on, I asked a postgraduate student from the same institution how these ladies could be so casual about their studies and she couldn’t hide her amusement at my ignorance. “Grad school is competitive. Undergrads get in because of money and name recognition.” I was stunned, but I remembered this when I saw the poor work they submitted at the end of their study. Being an aspiring lecturer (and a student of the late brilliant Prof R.O. Okelo) I marked them without fear or favour, assuming that they would be used to such standards at Princeton. I was told that I couldn’t give them such low marks because they were supposed to qualify for med school after their biology degrees.

They strayed off into a neighbouring ranch and I got a call from the security personnel there that they were sunbathing topless on the research vehicle.

The next cohort included one serious student who I actually enjoyed instructing and who finished her course successfully. By that time though, I was getting restless and had started writing an academic and financial proposal for my PhD, and I finished it about six months after my student had returned to the US to graduate. The then Director of Mpala, Dr Georgiadis, refused to let me do my PhD on the job, so I submitted my proposal to several conservation organizations, including the New York-based Wildlife Conservation Society. I received a positive response from them (offering me a grant) which hit me with a strange mixture of feelings. First of all, I was elated at the prospect of starting my PhD, but I was completely baffled by the signature on the award letter. It was signed by the undergraduate student that I had supervised about eight months earlier. An American undergraduate who had spent two months in Africa was somehow qualified to assess a PhD proposal on the ecology of African wildlife written by an African MSc holder. It was my rude awakening to the racial prejudice that is de rigueur in African conservation practice. But I had to get my academic career moving, and indulge my first taste of the ultimate luxury that my competence and my work could afford me, which was the ability to say “NO”. It was with extreme pleasure that I wrote and signed my letter of resignation from my job at Mpala, leaving it on the Director’s desk.

Years later, after I finished my PhD and had a useful amount of conservation practice under my belt, I attended the Society for Conservation Biology conference in Sacramento, California, where there was a side event featuring publishers from several Ivy League universities. I excitedly engaged them because at the time Gatu Mbaria and I were in the middle of writing “The Big Conservation Lie”. I pointed out to all of them that there were no books about conservation in Africa written by indigenous Africans, but they were uniform in their refusal to even read the synopsis of what we had written. I later understood why when I learned that in US academia, African names — as authors or references — are generally viewed as devaluing to any literature.

An American undergraduate who had spent two months in Africa was somehow qualified to assess a PhD proposal on the ecology of African wildlife written by an African MSc holder.

From Sacramento, I made the short trip to Stanford University in Palo Alto, to give a seminar to an African Studies group. I felt honoured to be making an academic contribution at an Ivy League university and I prepared well. My assertions about the inherent prejudices in African conservation practice were met with stunned silence by the faculty, many of whom are involved with conservation research in Africa. One bright spot in that dour experience was the brilliant PhD student who echoed my views and pointed out that these prejudices existed within academia as well. I later found out that he was Kenyan — his name is Ken Opalo and he now teaches at Georgetown University.

Fast forward to today. The Big Conservation Lie was published, and after the initial wailing, breaking of wind, gnashing of teeth and accusations of racism, Mbaria and I are actually being acknowledged as significant thinkers in the conservation policy field and our literary input is being solicited by various publications around the world. Now, the cultural differences between how European and American institutions treat African knowledge are becoming clear (certainly in my experience). I have been approached by several European institutions to give talks (lectures), and have contributed articles and op-eds (to journals and magazines) and one book foreword. Generally, the approach is like this:

“Dear Dr Ogada, I am_______ and I am writing to you on behalf of________. We are impressed with what you wrote in _____ and would appreciate it if you would consider writing for us an article of (length) on (topic) in our publication. We will offer you an honorarium of (X Euros) for this work, and we would need to receive a draft from you by (date). . .” Looking forward to your positive response. . .”

When inviting me to speak, the letters are similarly respectful and appreciative of my time. The key thing is the focus on and respect for one’s intellectual contribution. Publications from American Ivy league schools typically say:

“Dear Dr Ogada, I am __________, the editor of __________. We find your thoughts on _______ very interesting and we are pleased to invite you to write an essay of________ (length) in our publication. Previous authors we have invited include (dropping about 6-8 names of prominent American scholars).

The entire tone of the letter implies that you are being offered a singular privilege to “appear” in the particular journal. It is even worse when being asked to give a lecture. No official communication, just a casual message from a young student saying that they would like you to come and talk to their class on__________ (time and date on the timetable). No official communication from faculty or the institution. After doing that a couple of times, I realized that the reason these kids are so keen to have an African scholar speak to them and answer all their questions is because they need his knowledge, but do not want to read his publications, or (God forbid) have an African name in the “references” section of their work.

The reason these kids are so keen to have an African scholar speak to them and answer all their questions is because they need his knowledge, but do not want to read his publications.

European intellectuals seem to be catching on to the fact that knowledge and intellect reside in people, not institutions. That is why they solicit intellectual contributions based on the source of an idea they find applicable in that space and time. Name recognition doesn’t matter to them, which is why they seek people like Ogada, who doesn’t even have that recognition in Kenya. The elite schools in US still place this premium on institutions, which is why whenever an African displays intellectual aptitude, those who are impressed don’t ask about him and his ideas, but where he went to school. They want to know which institution bestowed this gift upon him.

For the record, I usually wait about a week before saying “no” to the Ivy League schools. Hopefully, they read my blog and will improve the manner in which they approach me, or stop it altogether.

Aluta continua.

Continue Reading

Op-Eds

Cuba Can Help Vaccinate the World

On 25 January, the Progressive International will host a special briefing live from Havana with Cuba’s leading scientists, government ministers and public health officials as part of its Union for Vaccine Internationalism.

Published

on

Cuba Can Help Vaccinate the World
Download PDFPrint Article

2022 began with a “tsunami” of new Covid-19 cases crashing over the world, according to the World Health Organization. Over 18 million cases have been recorded in the past week alone, a record number since the pandemic began two years ago. In the first 10 days of January, nearly 60,000 Covid-19 deaths have been recorded worldwide — though the total death count is far higher than the official statistics describe.

The Omicron variant is reported to have less “severe” implications among vaccinated patients. But the world remains perilously under-vaccinated: 92 of the WHO’s member countries missed the 2021 target of 40 percent vaccination; at the current pace of rollout, 109 of them will miss their 2022 targets by July.

These statistics tell a story of a persistent vaccine apartheid. Across the EU, 80 percent of all adults have been fully vaccinated against Covid-19. Meanwhile, only 9.5 percent of people in low-income countries have received a single dose. Omicron is a death sentence for thousands in these countries — and as the virus travels across the Global South, new variants will emerge that may be less “mild” for the vaccinated populations of the North.

But the governments of these Northern countries refuse to plan for global vaccination — or even meet their own pledges. By late last year, they had delivered only 14% of the vaccine doses that they had promised to poorer countries through COVAX, the UN vaccine-sharing initiative. Big pharmaceutical corporations are focused almost exclusively on production of boosters for the world’s rich countries, creating a shortfall of three billion doses in the first quarter of this year.

President Joe Biden could easily help fill this shortfall by compelling US pharmaceutical corporations to share their vaccine technology with poorer nations. But he has so far refused to do so. A new production hub in Africa — where only 3 percent of people are vaccinated — is now trying to replicate the Moderna vaccine. But without Moderna’s help, or Joe Biden’s executive action, production could take more than a year to begin.

Amidst this crisis of global solidarity, Cuba has emerged as a powerful engine of vaccine internationalism. Not only has the island nation successfully developed two Covid-19 vaccines with 90 percent effectiveness, and vaccinated more than 90 percent of its population with at least one dose of its homegrown vaccine, Cuba has also offered its vaccine technology to the world. “We are not a multinational where returns are the number one reason for existing,” said Vicente Vérez Bencomo of the Finlay Vaccines Institute in Cuba. “For us, it’s about achieving health.”

But the US and its allies continue to oppress and exclude Cuba from the global health system. The US blockade forced a shortage of syringes on the island that endangered its vaccine development and hindered mass production. US medical journals “marginalize scientific results that come from poor countries,” according to Vérez Bencomo. Meanwhile, the WHO refuses to accredit the Cuban vaccines, despite approval from regulators in countries like Argentina and Mexico.

That is why the Progressive International is sending a delegation to Havana: to combat misinformation, to defend Cuban sovereignty, and to help vaccinate the world.

Bringing delegates from the Union for Vaccine Internationalism, founded in June 2021 to fight the emerging apartheid, the Progressive International will convene Cuban scientists and government representatives to address international press and members of the scientific community in a showcase of the Cuban vaccine on 25 January.

The goals of the showcase are both local and global. Drawing attention to the promise of the Cuban vaccine and the perils of the US embargo against it, the showcase aims to forge connections between Cuba’s public biotech sector and manufacturers who might produce the vaccine and help the Cuban government recuperate the costs of its development.

In the process, the showcase aims to set an example of international solidarity in the face of the present global health crisis, advancing the cause of vaccine internationalism around the world.

This article was first published by Progressive International.

Continue Reading

Op-Eds

DRC: Bring Patrice Lumumba Home

The return of Patrice Lumumba’s remains must not be an occasion for Belgium to congratulate itself, but for a full accounting of the colonial violence that led to the assassination and coverup.

Published

on

DRC: Bring Patrice Lumumba Home
Download PDFPrint Article

For much of the past year, there have been plans for the sacred human remains of the Democratic Republic of the Congo’s first post-independence prime minister, Patrice Émery Lumumba, to finally be returned to his children in Belgium, and then repatriated to the Congo. Originally scheduled for a ceremony on June 30, 2021, the 61st anniversary of the country’s independence passed with Lumumba’s remains still in the custody of Belgian authorities. The ceremony with Belgian King Philippe, current Prime Minister Alexander de Croo of Belgium, and Congo President Felix Tshisekedi, was then planned for January 17, 2022, the anniversary of the assassination. Last week, Tshisekedi announced another delay—this time until June 2022. The official reason for the delay was the rising number of COVID-19 cases in the Congo, but the pandemic crisis is deeply entangled with a series of other political maneuvers and other crises that are undoubtedly factors in the decision.

At the center of this story, Lumumba’s family continues to be victimized. As Nadeen Shaker recently reported, his children were forced to escape to Cairo during their father’s house arrest, never to see him again. The disturbing fact that the remains of Lumumba spent another Independence Day in Belgium may provide opportunities for metaphor and analogy, but, amid the widespread complicity in this ongoing desecration, the most important outcome must be to respect the ethical and legal claims of his children, which daughter Juliana Lumumba described in an open letter to the Belgian king last year.

The story of the execution and its aftermath is well told by Ludo de Witte in The Assassination of Patrice Lumumba. On January 17, 1961, Lumumba was killed along with comrades Maurice Mpolo and Joseph Okito by Belgian authorities, with the support of neocolonial Kantangan separatists and the US. Two days later, Gerard Soete, Belgian police commissioner of Katanga, and his brother exhumed the body to chemically eradicate all physical evidence of their crime in order to prevent the kind of mobilization which its identification would inspire. Though the execution was kept secret for nearly a month, its announcement inspired exactly what his executioners feared, as African people throughout the world engaged in protest and other revolutionary acts of remembrance—from the well-known demonstration at the United Nations, and other cities throughout the world to a legacy in a visual, musical, and literary culture that continues to this day.

In February 1961, while the Cultural Association of Women of African Heritage organized a major protest at UN headquarters in New York, Lumumba’s widow Pauline Opango Lumumba led a march of family and supporters to the UN offices of Rajeshawar Dayal in Kinshasa. There, she requested that the UN help her receive the remains of her husband for a proper burial. After Ralph Bunche offered “apologies” for the New York protest, Lorraine Hansberry “hasten[ed] publicly to apologize to Mme. Pauline Lumumba and the Congolese people for our Dr. Bunche.” Meanwhile, James M. Lawson of the United African Nationalist Movement and other Black activists organized a wake for Lumumba at Lewis Michaux’s Harlem bookstore. When Pauline died in Kinshasa in 2014, she was still waiting to bury her husband. She, and her iconic demonstration, are memorialized in Brenda Marie Osbey’s poem “On Contemplating the Breasts of Pauline Lumumba,” which is part of a long line of African American efforts to uplift the Lumumba family. The immediacy of Pauline’s demands remains after 6 years.

While Lumumba’s body was dissolved in sulphuric acid, Soete, like the US lynchers of Sam Hose and so many others, kept trophies of his victims as he traveled from the Congo to Belgium, often displaying them for friends and journalists. After Soete died, his daughter Godelieve continued her father’s tradition, culminating in a bizarre 2016 interview, during which a reporter found the remains in her possession. (In her efforts to defend her father, Godelieve further revealed that his brutality was visited upon his children.) The Belgian police intervened and, for the past five years, Lumumba’s remains have been held by the Belgian government responsible for his death. In September 2020, a court finally ruled they should be returned to the family.

These most recent delays are occurring at a time when the ongoing mistreatment of human remains is receiving public attention. The case of the Morton Collection at the University of Pennsylvania led activist Abdul-Aliy Muhammad to uncover the ongoing desecration of the remains of Tree and Delisha Africa, who were killed when the city of Philadelphia bombed their family’s home on May 13, 1985, leading to the discovery that the city held additional remains of the victims of its violence against the MOVE organization.

Since 2005, in South Africa, the Truth and Reconciliation Commission (TRC) created the Missing Persons Task Team to identify the remains of the Black victims of the country’s apartheid era. Drawing on the expertise of researchers with experience in similar initiatives in Argentina and elsewhere, this government project has been deliberate in its efforts to include the families of the missing at all stages, while seeing their work as integral to the larger mission of the TRC, and further representative of a larger model of repatriation of human remains and possessions. As different as these cases of violence may be, government sanction—at multiple levels and taking different forms—remains constant.

In an October 2021 program hosted by Friends of the Congo, Juliana Lumumba explained that for her, as the daughter of a martyr, repatriation and memorialization of her father’s remains were not finite events to be completed like items checked off of a to-do list. Rather, the return must be part of a wider and ongoing process: “I told Belgium, that if we want a reconciliation we need reconciliation of memories because we can not make a reconciliation when our memories [are] so different and so contradictory.” Juliana’s words carry a particular weight at a time when the Special Parliamentary Commission on Belgian Colonial History has received a sharply critical historical report that may or may not lead to meaningful action of the sort that the family has demanded.

Lumumba’s son Guy-Patrice Lumumba opposes Tshisekedi’s efforts to exploit the repatriation for political gain. Tshisekedi himself is familiar with some of the political challenges of memorialization after the remains of his own father, longtime popular opposition leader Etienne Tshisekdi, spent more than two years in Europe before their return in 2019 after Felix’s election. Felix is quickly losing whatever claim he had on his own father’s mantle (see Bob Elvis’s song “Lettre à Ya Tshitshi for a recent indictment of the president’s abandonment of his father’s mantle). He may find value in an association with a revered nationalist icon amid political protests from opponents concerned about his overreaching efforts to control the country’s powerful electoral commission as the 2023 election cycle approaches.

Meanwhile, the younger Tshisekedi’s international standing has been consolidated through his position as head of the African Union, where his responsibilities include negotiating for the provision of COVID-19 vaccines for member states. He recently met with President Biden and made an official visit to Israel, the latter of particular concern given its historical involvement in mercenary efforts against pro-Lumumba rebels and its ongoing role in the plunder of the Congo’s resources (to say nothing of Tshisekedi’s support for Israel’s occupation of Jerusalem and its status as an observer at the African Union). Such actions highlight the extraordinary distance between Lumumba’s legacy and Tshisekedi’s leadership.

For decades, the Lumumba family has made a series of unanswered demands through formal inquiries and legal appeals. A group of scholars and activists have also asserted the return of Lumumba’s remains must not be an occasion for Belgium to congratulate itself, but rather an opportunity for a full accounting of the colonial violence that led to the assassination and its subsequent coverup.

Hopefully soon, Lumumba’s family can mourn on their own terms and have all of their demands for justice met immediately and without equivocation.

This post is from a partnership between Africa Is a Country and The Elephant. We will be publishing a series of posts from their site once a week.

Continue Reading

Trending