Aid has failed to create economic growth, says Moyo, and allows governments to evade their responsibilities. So when people say that aid provides essential services, they're missing the point. Except when disaster strikes, governments should be responsible for their citizens, not the international community.
From the vantage point of many who live in the West, Africa remains a continent of woe -- But today, at last, the flawed mythology that treats Africa as a homogenous disaster area is being challenged by investors, economists, and academics alike. The bottom billion is quickly becoming the fastest billion.
Where has growth in Africa come from, and what route will it take? Three speakers present at Chatham House on 31 October 2012. The panel: Charles Robertson, Chief Economist, Renaissance Capital; Jide Olanrewaju, Partner - Satya Capital LLP; Razia Khan, Head of Regional Research Africa, Standard Chartered; Chair: Komla Dumor, Presenter, BBC World News
Hersman asks us to shed outdated notions of Africa as a unified place plagued by starvation and war. Between mobile phone innovations like M-PESA, social networking like MXit and entrepreneurial spaces like Maker Faire Africa, Hersman sees innovation and entrepreneurship exploding within some of Africa's—and the world's—fastest growing economies.
Ghanaian economist George Ayittey unleashes a torrent of controlled anger toward corrupt leaders in Africa -- and calls on the “Cheetah generation” to take back the continent. Economist George Ayittey sees Africa's future as a fight between Hippos -- complacent, greedy bureaucrats wallowing in the muck -- and Cheetahs, the fast-moving, entrepreneurial leaders and citizens who will rebuild Africa.
Jacqueline Novogratz applauds the world's heightened interest in Africa and poverty, but argues persuasively for a new approach. Jacqueline Novogratz founded and leads Acumen Fund, a nonprofit that takes a businesslike approach to improving the lives of the poor. In her new book, The Blue Sweater, she tells stories from the new philanthropy, which emphasizes sustainable bottom-up solutions over traditional top-down aid.
In this provocative talk, journalist Andrew Mwenda asks us to reframe the "African question" - to look beyond the media's stories of poverty, civil war and helplessness and see the opportunities for creating wealth and happiness throughout the continent. He argues that aid makes objects of the poor -- they become passive recipients of charity rather than active participants in their own economic betterment.
Ngozi Okonjo-Iweala, the finance minister of Nigeria, sums up four days of intense discussion on aid versus trade on the closing day of TEDGlobal 2007, and shares a personal story explaining her own commitment to this cause. As the first female Finance Minister in Nigeria, Ngozi Okonjo-Iweala attacked corruption to make the country more desirable for foreign investment and job creation.
Synopsis: Inadequate infrastructure remains a major obstacle towards Africa achieving its full economic growth potential. With Africa seen as one of the world’s fastest growing economic hubs, meeting the demand for key infrastructure has been identified as a priority. This translates into exciting opportunities for global investors who need to look past the traditional Western view of Africa as a homogeneous block, and undertake the detailed research required to understand the nuances and unique opportunities of each region and each individual country. This detailed piece of thought leadership looks at the importance of... READ MORE
Synopsis: The continent’s growth story isn’t entirely about the extractive industries. Although Africa’s growth prospects are bright, they differ not only country by country but also sector by sector. These articles examine the possibilities for seven of them: agriculture, banking, consumer goods, infrastructure, mining, oil and gas, and telecommunications. Perhaps the most fundamental point is that Africa’s growth story is hardly limited to the extractive industries. As many as 200 million Africans will enter the consumer goods market by 2015. Banking and telecommunications are growing rapidly too, and infrastructure expenditures... READ MORE