The Need for Security
We must understand that all progress is based on individuals feeling secure and knowing that what they create will not be taken from them on an arbitrary basis. You could link this to the rule of law and the need for everyone to feel that when needed they can turn to the institutions of their society that will deal with their problems and conflicts when they arise, in a just and equitable manner.
Take these elements away and all progress in innovation, economic activity and development suddenly become impossible. In Africa, I have long argued that one of our greatest shortcomings is our failure to give people security over the assets they create or use. Our cultures were created in an era when land was a free good and in abundant supply - people used simple technologies to clear land, exploit it for a few years until it was exhausted and then they simply moved to a new location and repeated the process.
Now that our populations have reached the point where this system can no longer be sustained, if we do not give our rural populations security of tenure there is little or no chance that our farmers will be able to develop their land and will be willing to invest in it on a long term basis.
Only a small proportion of global land resources are held under secure, legal tenure but such land supplies the great majority of global food supplies. The majority of people living in rural areas where the land tenure is communal are locked into a system where the equity value of the land they are using is not available to them as collateral and where they have little or no security over any assets they create on the land in question. So these hundreds of millions of people in rural Africa are locked into a system that keeps them in poverty and as their populations grow, their conditions of poverty simply deepen.
During the colonial era in Africa, tracts of land were taken over by settlers and were then held under freehold title rights that were protected by both the Constitution and the legal system. These farmers were able to use these resources as collateral and in Zimbabwe the farmers were able to borrow many billions of dollars for both long term and short term investment. The result was the development of a farm system that became a leader in the world in terms of yields and technology. The country not only exported half of its production but maintained food supplies at the lowest cost of any regional State to its people while supplying 60 per cent of all raw materials used by industry.