Dambisa’s book “Dead Aid or Wrong Approach?” against the odds, is the recent work from Africa that positively captivated the world. Though the idea is not new, it adds up.In a nutshell, let me add a few points. Much of the moneys offered as aid are squandered by rulers.
Donors’ money is either used to do globe trotting or is used to convene pantomime elections that scoop a lot more money. When ‘winners’ are declared, they steal, abuse office and consent to exploitative and misleading policies that enable western companies to rob Africa of her wealth. It recently came to light that mining companies in
Any African will tell you that aid is meant for rulers and if it is stopped, only rulers will be in trouble. Take, for example, the money that is channeled into supporting the budgets of African countries and compare it to the expenditure of the same as opposed to development programmes. You will see the rationale. Budgetary support money ends up being abused by rulers. They use it to pay their private armies and party carders in order to remain in power (not to mention their gargantuan governments made of their cronies and relatives). This is why the budgets of the ministries of defence have been dubiously kept a top secret in Africa.
In 2005, Tanzania Central Bank was robbed by the ruling Chama Cha Mapinduzi (CCM) at the tune of over $ 500,000,000. This is a huge amount for a poor country like
When it comes to the loans they extend to poor countries, the common man in the street pays them in future as he is forced to droopingly bow before robbery as we see in investment in
What’s more, aid money is given by the left hand but it ends up being snatched by the right one! To muse on this, try to imagine how bigger and extravagant governments- in Africa compared to donor countries- are. Refer to the sacrilege that came to light recently whereby in
Aid has neither solved Africa's problems nor spurred expected development levels as Moyo observes. This can be easily seen on how the recipients have become chronic beggars and dependent. In fact, much of the money is stolen by thievish rulers to end up being stashed in Western banks. Refer to Mobutu Seseseko, Sani Abacha and
The other venue that used to be effective and reliable as far as utilizing aid is concerned was by the way of channeling it through Non Governmental Organisations. But recently things have changed. Government agents have invaded NGOs and are getting away with it. Imagine. What is an NGO manned by the first lady for if not to scoop this generously given money? Sadly, donors favour these NGOs in order to entice and induce the big man in the state house. This is the breeding ground for corruption. Why should a president’s spouse form NGOs only after her hubby ascends to power?
I fully concur with Moyo when she says that free market based on socialist values is the way forward. Such a proposal needs courage of the mad at this time where capitalism is everything. Was it admitted due to the shake up that resulted from the global credit crunch? Is it welcome simply because the world now needs more cash than democracy? This is when
Though we’re told currently that we are under globalization and free market, this concept is a hoax and the beneficiaries are but Western countries whilst Africans lose.Terms of trade are not uniform. Again that’s where
One thing that demeans China’s reputation is its fake and substandard products. China, like
Source: The African Executive Magazine Nov. 4, 2009.