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
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
As a result of chronically deficient demand in the aftermath of the 2008-2009 financial and economic crises, global imbalances are on the rise again, as is the risk of protectionism. The US accuses China of undervaluing its currency to support its industry. The situation could lead to an “international currency war”. What does this herald for African countries? If history … [Read more...] about CURRENCY WAR CLOUDS OVER AFRICA
A weaker exchange rate makes a country’s exports cheaper, potentially boosting a key source of growth for economies battling to find growth, as they emerge from the 2008-2009 credit crunch and economic crisis suffering from chronically deficient demand. Global imbalances are on the rise again, as is the risk of protectionism. Western countries are battling to keep their … [Read more...] about Currency war : the stakes for Africa
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
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 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
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
The success that US President George W. Bush and his special envoy, former Secretary of State James Baker, had in getting Iraq's foreign debts canceled or rescheduled shows what can be done when a policy is backed by political will. The contrast with Africa's debts could hardly be starker. Just three years ago, Jubilee 2000 made news when civil society groups, rock stars, and a … [Read more...] about Africa’s Debt Dilemma
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 ?
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?