Who speaks: Kamal Hubbard (B). Transcribed by We Them Media from the original audio, with Kamal’s permission. Speaker letters mark turns, as the model separated them.
These are the speakers’ own words. We have not checked their claims.
0:04AVery, uh, profound thoughts and analysis from, uh, Brother Phil Scott. Thank you for that very elaborate analysis of the ancient evil of colonialism and how we can break free from this pandemic that is plaguing our economics and plaguing our, you know, social life and plaguing our political life. Well, now, uh, another very good friend of mine, uh, he is an attorney, he is, uh, a practicing attorney, he is a business consultant, and he’s a very Pan-African brother. Kamal Hubbard, you are welcome to the Africa Today broadcast. Share with us please what your thoughts are on how colonialism can be reversed and how we can trace it in ancient times and to this very day. Welcome to the show.
0:51Kamal HubbardColonialism has left Africa in an economically vulnerable position where assets such as gold, diamonds, oil, rubber, bauxite, and other resources have been extracted from the continent by outside companies and countries, leaving very little of those profits to be shared with the African people. This set the stage for a post-colonial era that led to issues such as ethnic politicalization, which caused major human rights issues. This also led to issues when it came to financial capital and inefficiencies leading to things like brain drain and extreme poverty. When we’re talking about extreme poverty, the colonial and post-colonial financial systems have shut out over 326 Africans from basic things like getting a bank account.
0:51Kamal HubbardHere in the United States, there’s a long track record of discriminatory practices disproportionately affecting Black people. Practices such as redlining, where banks would not extend loans to Black families wanting to live in certain areas of a city. This robbed the American home market of over $218 billion. When we talk about the Black worker, they have lost over $113 billion over the last 2 decades simply because they could not get a college degree. And Black businesses have suffered far worse when it comes to access to capital. Not just Black businesses, but the US economy has lost over $13 trillion simply because Black entrepreneurs could not receive a small business loan.
That was the whole conversation.
