The Senegalese people are extremely disillusioned. In 2000, they enthusiastically went to the polls to elect Abdoulaye Wade as their president. Wade had campaigned as an agent of change, but change never came to Senegal throughout his decade in power. Now the only change he wants to make is to the constitution, so that he can retain his hold on power. Wade turned out to be … [Read more...] about Senegal’s Day Of Reckoning : It’s The Economy Stupid !
DAKAR – Senegal’s people are deeply disenchanted. In 2000, they enthusiastically went to the polls to elect Abdoulaye Wade as their president. Wade had campaigned as an agent of change, but change never came to Senegal throughout his decade in power. Now the only change he wants to make is to the constitution, so that he can retain his hold on … [Read more...] about Can Senegal Succeed ?
Humboldt University Economic Forum Berlin, 11 May 2011 I. INTRODUCTION After four decades of sluggish economic activities, improved macroeconomic conditions, better business climate, political and currency stability, and a burgeoning middle class have triggered economic growth in many African countries. Telecom, banking, and retail are flourishing. Construction is … [Read more...] about Africa : Economic growth and sustainability
China’s burgeoning relationship with Africa is being decried in some quarters, including western observers – and some Africans, too – as a new form of colonialism. Such criticism is largely misplaced. First, after having preached the globalisation tenet of economic liberalisation and free competition, the West cannot really grumble about being outbid by China in the race for … [Read more...] about QUESTIONS ON THE FUTURE OF CHINA-AFRICA COOPERATION
Oxford University China-Africa Network The Oxford University China-Africa Network (OUCAN) with the support of the Economic & Social Research Council (ESRC) present The Conference on "Chinese Investment and African Agency" hosted by the Department of Politics and International Relations, University of Oxford 11-12 March 2011 Regulating China-Africa cooperation … [Read more...] about Regulating China-Africa cooperation imbalances
For Karl Marx, there was an historic necessity for States to wither away in anticipation of an idyllic communist society capable of auto-regulating economic imbalances and empowering the masses. The towering revolutionary author of Das Kapital would have been flabbergasted to see his prophecy realised, not under the flagship of communism, but that of the globalisation of the … [Read more...] about Toward an African energy doctrine
The African Union, which replaced the Organization for African Unity (OAU) in 2002, is trying to reproduce the European Union's institutions and ways of acting. But copying the EU blueprint means that nothing has been learned from the past and that nothing is being done to avoid the pitfalls Europe has endured. The biggest flaw in the EU model has been its reliance on a … [Read more...] about Should Africa Follow the EU Model ?
NEPAD, the last plan to kick-start Africa's economic development adopted by the OAU in Lusaka (Zambia) on July, 11, 2001, is articulated around investment in the key sectors of infrastructure, agriculture, health and education. The plan is to be financed by the international community and through private capital flows, mainly from the multinationals. In choosing this way of … [Read more...] about NEPAD : the wrong plan ?
The former sub-Saharan French colonies did not have to fight for their independence. De Gaulle, then President of France, granted it to them. These countries undertook immediately to dismantle the federal structure in which they were operating and erected trade barriers between them. Paradoxically, they kept the CFA as their common currency. They surrendered the management … [Read more...] about CFA Franc: a Colonial relic
Sub-Saharan Africa "Working together" INTRODUCTION The social and economic distortions that have stifled, so far, all development attempts in sub-Saharan countries have been a matter of concern over the years. The mere fact of their persistence, in spite of the attempts made, cannot be ignored. And when the stakes are as high as the ambition to alleviate poverty and setting … [Read more...] about Legislation and litigation to rescue the development process
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?
Marxist economics made the withering away of the state its ultimate goal. However, it is the unabated liberalisation of the world economy, which is translating the old socialist dream into a disquieting reality. It needed the combination of three ingredients to make this twist of history possible. First, there was Nixon's decision in 1972-73 to end the dollar-gold link, which … [Read more...] about CAPITALISM IN CRISIS