How can the concept of Ubuntu be used to create a more equitable free trade system?

Free trade agreements are key to economic success in today’s globalised world. How can we create a strong, sustainable and international trading environment that will bring more opportunities for growth and prosperity for all businesses, both multinationals, start-ups and scale-ups?

Fortunately, there is an effective tool that can help companies achieve this goal: Ubuntu. This African concept of Ubuntu is gaining ground in the international business world as a way to promote social justice, sustainability, and fair trade.

This ancient African philosophy of interconnectedness is now pushing the African Free Trade Market to an international level. Interesting to see and learn how Ubuntu is being practised in this African business approach. You can have a look at the following:

https://issafrica.org/iss-today/ubuntu-could-help-push-africas-free-trade-agenda?utm_source=BenchmarkEmail&utm_campaign=ISS_Weekly&utm_medium=email

Also interesting to think about what the western world could learn from this African approach to doing business together. So let’s explore how Ubuntu can help to build better partnerships in the global free trade agenda.

What Is Ubuntu?               

Ubuntu is an African philosophy based on the idea that all people are spiritually and materially connected. It emphasises the importance of community, harmony, empathy, and compassion for one another. It celebrates our shared humanity and encourages mutual respect and understanding between individuals. By embracing these values, we become part of a larger whole, a community of people united by common goals and aspirations. And where every company is valued for its contribution to the whole. 

How Can Ubuntu Help With Free Fair Trade and Partnership Collaboration?

• By creating fair trade agreements between countries, companies and organisations that would otherwise not be able to participate in global markets due to their lack of resources or access to capital, you can create more equitable partnerships based upon equality.
  
• Include smaller businesses and entrepreneurs in big collaborations, and do not leave them behind in the process. While negotiating with other partners, focus on creating mutually beneficial relationships that benefit all parties involved.
  By considering their individual circumstances during negotiations, we can ensure that everyone involved has a chance at success regardless of their size or power within the region or continent as a whole. This encourages us to think beyond our own interests.

• Treat your partners openly, fairly and respectfully. This helps to create an atmosphere of trust between all parties involved, which helps foster long-term relationships and encourages further development.

• Innovate. Ubuntu encourages innovation, experimentation and entrepreneurship. Businesses can apply this philosophy by encouraging innovation in their operations and experimenting with new business models promoting free trade and sustainable development.
  
• Include the benefits of future generations while making choices. Use resources sustainably. Aim for a healthy and prosperous trading environment by working together responsibly. Practising Ubuntu so that future generations can also benefit from these partnerships. No nation is an island. We are not on this planet alone. Take your responsibility.

Conclusion

Embracing Ubuntu means doing business in today’s global world based on collaboration, fairness and trust over the competition. Based on open agendas instead of hidden ones, on long-term effects and responsibility over quick wins without sacrificing sustainability. With the aim that everyone involved benefits while also promoting economic growth.

GreenDreamCompany Calls You

At my own company GreenDreamCompany, we build solid international partnerships around cultural heritage-inspired tourism attractions. We value partnerships based on the Ubuntu philosophy. If you think you or your company is ready for Ubuntu-inspired partnerships, do not hesitate to contact us via this link.

Leontine van Hooft is a corporate anthropologist, inclusive entrepreneur, inspirational speaker and author of prize-winning management books based on the African Ubuntu philosophy.