Tag: economy
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The Future is Africa
Africa, the cradle of civilization with a population of 1.5 billion people (most of whom are under the age of 25) has had a long, cherished, and checkered history. From time immemorial, the continent has experienced many exploitative ventures by both external and internal forces. It has gone through the dark ages of slavery and…
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Red Storm Rising: China Makes Her Mark in Africa
There appears to be an ongoing battle in Africa for a share of the continent’s rich mineral and natural resources. Global investment in Africa is at an all time high. This is mainly driven by the insatiable need for precious minerals, like rare earth elements or metals. Other important minerals, like gold, bauxite, and copper…
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An Unholy Alliance: Africa and the IMF
Africa and the International Monetary Fund (IMF) have had a complex relationship over decades. It is akin to family members quarreling with one always going to the other for assistance. In other words, it is the classic case of “can’t live with them, can’t live without them.” The IMF was the brainchild of 44 leaders…
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South Africa’s hard truths
South Africa is widely considered as a modern industrializing country, with one of the world’s most progressive constitutions that prides itself on inclusiveness. South Africa is fondly known as the “rainbow nation” due to its diverse and multicultural society. Despite much internal and external resistance, it held a much heralded truth and reconciliation commission after…
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From Altruism to Strategy: Understanding Africa’s Rising Role in Geopolitics
The history of Western assistance or investment in Africa has been altruistic and born out of colonial guilt. For decades, Africa has been on the periphery of geopolitics. In other words, the continent was treated as a non-entity in the power play of global politics. That narrative, however, is changing. The overall structure and organization…
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The Impact of Elite Rule on Africa’s Development
Many of Africa’s intractable political and economic shortcomings could be seen as the incapability of the people of ruling themselves. Some have posited that the colonial powers opted out of the continent prematurely. In this politically correct age, such views are seldom spoken openly by either foes or friends of Africa. Conversely, it would be…
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China’s Economic Partnership with Africa: Opportunities and Challenges
There is an ongoing battle in Africa for a share of the continent’s lucrative and enticing economic opportunities. Emerging economic powers such as Brazil, Russia, India and China are making their case for a share of Africa’s vast and rich natural resources. One of these emerging global powers is China, which has doubled its investment…
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Critique of World Bank and IMF: Effects on Global South Economies
The World Bank and the International Monetary Fund (IMF) were created by leaders of the 44 nations of the Bretton Woods conference. The World Bank was responsible for financing long-term productive investment in member countries while the IMF was to provide loans to overcome short-term balance of payment deficits. The leaders feared an unregulated global…
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Africa’s Economic Future: Investment Trends and Strategic Alliances
More than a century after the Berlin Conference when Africa was carved up by major European powers, it appears a new scramble for the continent is underway-this time for a share of the continent’s enticing economic opportunities. Investment interest in Africa is at an all time high, global business leaders are discussing how the continent…
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Africa’s Oil Wealth: Good Governance and Development Challenges
In Africa’s oil producing countries, only a tiny fraction of the revenue is used to fight poverty, and in many cases “black gold” has become a hurdle to development. Oil in Africa lies at the center of questions of good governance and development, as oil prices and revenues soar but fail to bring better living…
Global Politics Today 