The decades when the continent couldn’t raise major funds on ordinary commercial markets are over, but there are still worries about over-indebtedness. by Sanou Mbaye The nations of sub-Saharan Africa, in the post-independence euphoria of the 1960s, wanted to end the international division of labour under which they exported raw materials and imported manufactured goods. … [Read more...] about Africa borrows on the open market
West African States
Nowadays, African countries are wooed because they are perceived as the spearheads of the world economy. The Economist, the English weekly newspaper, predicts that in the next five years, seven out of ten fastest growing economies in the world will be in Africa: Ethiopia (8.1 per cent), Mozambique (7.7 per cent), Tanzania (7.2 per cent), Congo (7.0 per cent), Ghana (7.0 per … [Read more...] about Liberating Africans from the CFA “franc” trap
In recent years, China and Africa have formed one of the modern era’s most successful economic and trade partnerships. China benefits from Africa’s oil, minerals, and markets, while Africa benefits from increased trade and investment in infrastructure, health, education, small-scale businesses, and low and medium technologies. Some Western observers – and some Africans – … [Read more...] about Africa’s French Roadblock
DAKAR – How did Ivory Coast come to this? After gaining independence from France in 1960 with Felix Houphouet-Boigny as President, the country became the world’s largest exporter of cocoa beans and a significant exporter of coffee and palm oil. Throughout the 1960’s and 1970’s, sizeable export earnings, combined with easy access to credit, fueled an economic surge dubbed the … [Read more...] about Africa’s Winds of Change Return
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
In 2002 Côte d’Ivoire was rocked by a rebel uprising that partitioned the country into two parts, with the government led by President Laurent Gbagbo controlling the south, the rebels the north and the French army camping between the two. As a member of the Security Council, France managed to give this intervention the stamp of international approval under a UN mandate. In … [Read more...] about Stakeholders in the Côte d’Ivoire crisis
China-Africa Civil Society Dialogue : Development Challenges in Africa and the Chinese Development Experience Beijing, P.R. China, October 18th -19th , 2010 For most of the past five decades African countries were locked out of international capital markets. As a result, they have largely been spared the twin woes of the 2008 financial turmoil and subsequent world economic … [Read more...] about CHINA-AFRICA COOPERATION – THE STAKES
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 ?
DAKAR – This month, Africa’s Francophone countries will mark the 50th anniversary of their independence, and of the ties they maintain with France. But is there much to celebrate? Even before French President Charles de Gaulle took office in 1958, he foresaw the wave of revolutionary nationalism that would soon sweep across Africa, Asia, Latin America, and the Middle East. … [Read more...] about Françafrique at 50
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)
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
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 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
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?
Sanou MBaye suggests that the price of maintaining links with France is too high FOURTEEN OF THE former West African French colonies use the CFA franc, whose exchange rate is pegged to the French franc, as a common currency. The CFA franc was created, in its initial form, in the 19th century to help France shape and control the economies of her colonies. The scheme was quite … [Read more...] about Why the CFA franc must go