As the former French colonies of Africa head to Nice to celebrate the 25th France-Africa Summit at the end of May, Sanou Mbaye questions the enduring legacy they’re honouring. Following decades of political and economic tyranny forged by French politicians, the citizens of former colonies continue to absorb the impact of chaotic and ruinous policies left over from their … [Read more...] about France-Africa leaders’ festivities : What to celebrate ?
African Development Bank
Leveraging Africa’s Diaspora remittances
There is something familiar about the tide of news about sub-Saharan Africa’s increased economic hardship in the face of the worst world financial crisis and economic downturn for decades. The tide flows through exactly the same conclusions of the UN and other multilateral Institutions, academics, NGOs and Civil Society experts on Africa’s issues. They stretched to include … [Read more...] about Leveraging Africa’s Diaspora remittances
PROJECT PROPOSAL : CREATION OF THE AFRICAN DIASPORA INVESTMENT BANK (ADIB)
The promoter of the African Diaspora Investment Bank (ADIB) is the London-based Senegalese banker Sanou Mbaye, a former member of the senior management team of the African Development Bank, and the author of “L’Afrique au secours de l’Afrique” (Africa to the Rescue of Africa). African migrant remittances to their country of origin is such an important source of finance that … [Read more...] about PROJECT PROPOSAL : CREATION OF THE AFRICAN DIASPORA INVESTMENT BANK (ADIB)
BOOM OF RAW MATERIALS
Two major events combined to drive oil and raw material prices at new height. First, financial turmoil linked to the subprime credit crisis, growing risk of inflation, a weak US economy and a falling dollar have made attractive oil and precious metals such as gold and platinum as safe sheltering values for investors and speculators as well. Increased demand for raw materials … [Read more...] about BOOM OF RAW MATERIALS
Overcoming Africa’s North-South Divide
The late President Mobutu Sese Seko of former Zaire once declared that the North African countries, which pride themselves on their Arabic descent, should be excluded from the then Organization of African Unity. Mobutu's rule was, of course, deeply flawed, but he was not alone within the pan-African movement in such thinking. The antagonism between the blacks of sub-Saharan … [Read more...] about Overcoming Africa’s North-South Divide
China’s Grand Africa Strategy
Ever since the Berlin conference of 1883, which Belgium’s King Leopold II called “the sharing of Africa’s cake,” the West has assumed exclusive rights over sub-Saharan Africa. But, while centuries of struggle to end colonial rule and apartheid have not changed this much, now Western influence is being challenged by China, which likewise covets Africa’s rich reserves of minerals … [Read more...] about China’s Grand Africa Strategy
Sub-Saharan Africa’s Leadership to Nowhere
Why are the countries of sub-Saharan Africa the poorest in the world? One reason is the set of ill-designed development strategies that the IMF and the World Bank have implemented in the region for nearly half a century. But the centuries-old culture of leadership that is ingrained in many African societies has played an equally disastrous role. Indeed, the overwhelming … [Read more...] about Sub-Saharan Africa’s Leadership to Nowhere
Africa ‘s Oil Rush
It takes a threat to oil supplies to get world leaders to pay attention to Africa . Usually neglected by globetrotting statesmen, the continent recently saw visits from US President George W. Bush, Chinese President Hu Jintao, Brazil 's Lula Da Silva, German Chancellor Gerhard Schroeder and many other world leaders. Their public comments were typically devoted to development, … [Read more...] about Africa ‘s Oil Rush
How the French Plunder Africa
France's unchallenged political, economic, and military domination of its former sub-Saharan African colonies is rooted in a currency, the CFA franc. Created in 1948 to help France control the destiny of its colonies, fourteen countries--Benin, Burkina-Faso, Ivory Coast, Mali, Niger, Senegal, Togo, Cameroon, Central African Republic, Congo, Gabon, Equatorial Guinea, Bissau … [Read more...] about How the French Plunder Africa
The African Union : A need to go back to the drawing board
Background The yearning for regional cooperation and economic integration in Africa was born in the United States within the pan-African movement in the 19th Century and has been kept alive ever since among the masses, the elite and the members of the Diaspora. This hope is so compelling that all African leaders have felt obliged to put it heartedly or opportunistically on … [Read more...] about The African Union : A need to go back to the drawing board
How best can the EU support the new AU Key Questions for Contact Person
Background The yearning for regional cooperation and economic integration in Africa was born in the United States within the pan-African movement in the 19th Century and has been kept alive ever since among the masses, the elite and the members of the Diaspora. This hope is so compelling that all African leaders have felt obliged to put it heartedly or lukewarmly on their … [Read more...] about How best can the EU support the new AU Key Questions for Contact Person
Sub-Saharan Africa on the Sidelines, A false economic dawn?
After the collapse of the Mobutu regime Zaire, now renamed the Democratic Republic of Congo, has been left stripped of resources, in spite of the mineral wealth being eyed covetously by foreign investors. Elsewhere, the International Monetary Fund's figures point to a significant improvement in sub-Saharan Africa. However, imposing structural adjustment, privatisation and … [Read more...] about Sub-Saharan Africa on the Sidelines, A false economic dawn?
