DAKAR – Sub-Saharan African is in the grip of currency-union mania. Regional groups of countries in eastern, southern, and western Africa are all giving priority to the idea of creating a monetary union. But haven’t we heard this all before in Africa? Indeed, today’s enthusiasm for currency unions ignores the poor track record of previous attempts on the continent to … [Read more...] about Africa’s Misplaced Monetary Ambitions
DAKAR – The slump in prices for Africa’s natural resources, which led to chronic deficits in the past, has been reversed. Consumption, fueled by huge Asian demand for African commodities, is on the rise across the continent. For much of Africa, this turn of events should mark a decisive break with endemic poverty. But, unless African leaders change their ways, it will … [Read more...] about The Slave Ethos and the African Economy
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 ?
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
DAKAR – There is something dismally familiar about the tide of news reports concerning Africa’s increased suffering – more poverty, malnutrition, civil strife, and death – in the face of the recent global financial crisis. Almost everywhere, the media translates academic conclusions into graphic illustrations of brutality and despair in places such as Guinea and the Democratic … [Read more...] about Africa’s Diaspora to the Rescue
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
The Heinrich Böll Foundation (HBF) Regional Office for East & Horn of Africa, Nairobi, and Fahamu Kenya brought together Chinese experts on Africa and representatives of African civil society organizations, providing a platform to exchange views and perceptions, and discuss areas of concerns to both sides, based on various country and thematic case studies. I. CHINA’S … [Read more...] about CHINA – AFRICA : Matching China’s activities with Africa’s needs
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
Ever since the Berlin conference in 1883 in what Leopold II, the king of Belgium, had dubbed “the sharing of Africa’s cake”, Western countries tend to have assumed exclusive rights over the countries of sub-Saharan Africa. Centuries of struggle for political and economic freedom to free themselves from colonial rule, remove apartheid and win their independence did not change … [Read more...] about China explosive drive into sub-Saharan Africa
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
Institute for peace support and conflict management (IFK) Africa-Workshop January 26th to 27th, 2006: Sorting Out the Mess: Wars, Conflicts and Conflict Management in West Africa To assess the expectations West Africa can look forward to from Europe, there is, first, the need to understand the root causes of the problems that have beset the populations and the … [Read more...] about West African expectations of Europe
Sub-Saharan Africa's appalling poverty and living conditions have been exposed repeatedly through television and the Internet. But these agonizing pictures represent only the symptoms of an underlying - and largely unreported - malady: capital flight. Capital flight stems from myriad causes: debt servicing, the awarding to foreign firms of almost all contracts financed by … [Read more...] about Starving for Capital in Sub-Saharan Africa
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 ?