Tag Archives: Economy

Africa: The Trump Administration’s First African Growth and Opportunity Act Forum

This week, some 40 African finance and trade ministers, along with a large contingent of senior U.S. government officials will descend upon the coastal city of Lomé, Togo for the annual African Growth and Opportunity Act (AGOA) Forum.

There will be more eyes on this year’s Forum. Aside from Secretary Ross’ brief address at the Corporate Council on Africa’s Annual Summit earlier in the summer, this will be the first opportunity to hear the Trump Administration substantively outline their approach to economic and trade relations with the continent.

Leading the U.S. delegation to the Forum will be U.S. Trade Representative (USTR) Ambassador Robert Lighthizer and he will be joined by representatives from the State Department, Treasury Department, USAID, Department of Agriculture, among other agencies.

AGOA, first approved in May 2000 and subsequently reauthorized, provides duty-free access for more than 6,000 items exported from eligible sub-Saharan African countries. The program is intended to stimulate economic growth through a market based approach that will help Africa integrate into the global economy.

Uniquely, the Administration is mandated by the legislation to organize the Forum annually, for the purpose of “discuss[ing] expanding trade and investment relations between the United States and sub-Saharan Africa and…encouraging joint ventures between small and large businesses.” By all accounts, the AGOA Forum continues to be the primary mechanism, and opportunity, for  discussing policy matters that impact the commercial relationship between the U.S. and Africa. Since the private sector and civil society are integral to these discussions they also have a seat at the table at the Forum.

It is expected that the American delegation will emphasize the importance of adhering to the eligibility criteria of AGOA, particularly on issues related to “the elimination of barriers to United States trade and investment.” AGOA and its cyclical (and off-cycle) review process gives the Administration a significant, and flexible, tool to push African governments on their priority issue – ensuring American companies can fairly compete on the world stage.

Continue reading on AllAfrica.com

By Worku Gachou

Arlit: The little town in Niger keeping the lights on in France

From Niamey, the capital of the landlocked West African nation of Niger, we call ahead to a desert town in the remote north of the country. “Journalists? On their way here? It’s been a while”, we hear down the phone from our contact. “We welcome you with open arms, but only on the pretence that you’re visiting to interview migrants on their way to Algeria. If they find out you’re poking your nose in their business, it’s a lost cause.” That same evening, the public bus jolts as it sets off. Destination: the gates of the Sahara.

The stuffy subtropical heat gradually fades into scorching drought and plains of seemingly endless ochre sands. About two days later, we pass through a gateway with “Arlit” written on it in rusty letters.

The town of about 120,000 inhabitants is located in one of the Sahel’s most remote regions, not far from the Algerian border. The surrounding area is known to be the operating territory of numerous bandits and armed groups, including Islamist militants. It is like an island in the middle of the desert, an artificial oasis with only one raison d’être: uranium.

Areva in Arlit

For Arlit, 2 February 1968 was a crucial date. Eight years earlier, Niger had gained its independence from France, but now, the former colonial power was deepening its role in the country once again. After years of research, the French government had decided to open its first uranium mine in the area.

Starting production was relatively straightforward. “In the West you need a bookshelf full of permissions and certificates. In Niger, you give someone a spade and two dollars a day, and you’re mining uranium”, wrotejournalist Danny Forston when he visited the town.

And so it went. The first shovel in the northern sand was accompanied by handshakes and the promise of an honest collaboration between one of the world’s least developed countries and its former coloniser. The French swore that Arlit would soon be known as Le Petit Paris.

Since then, approximately 150,000 tonnes of uranium have been extracted by the majority state-owned French company Areva, which is now one of the largest uranium producers in the world. The two mines around Arlit – Somaïr and Cominak – account for around a third of the multi-billion-dollar company’s total global production.

France uses this uranium to generate nuclear power, some of which is sold on to other European countries. According to Oxfam, over one-third of all lamps in France light up thanks to uranium from Niger.

However, in contrast to France, Niger has failed to see similar benefits. The West African country has become the world’s fourth largest producer of uranium, which contributes tens of millions to the nation’s budget each year. Yet it has remained one of the world’s poorest and least developed countries, with almost half its 20 million population living below the poverty line. Its annual budget has typically been a fraction of Areva’s yearly revenue.

The main reason for this is the deal struck between Areva and Niger. The details have not been made public, but some journalists and activists such as Ali Idrissa, who campaigns for more transparency in the industry, have seen the agreement. Amongst other things, the documents suggest that the original deal generously exempted Areva from customs, export, fuel, materials and revenue taxes.

In 2014, Niger attempted to re-negotiate. As the agreement came up for renewal, the government called for the tax breaks to be removed and for the low royalty rate to be raised from 5.5% to 12-15%. Areva insisted this would make its activities unprofitable and suspended operations for two weeks during negotiations, officially for maintenance reasons.

Eventually a new deal was agreed, but the power dynamic between Areva and Niger had been made clear in the drawn out negotiations.

Apart from criticising the Nigerien government for not spending its uranium revenue where it is most needed – such as in health care, education and agriculture – Idrissa emphasises the bigger geopolitical picture: “Don’t forget that Niger isn’t just negotiating with a regular company, but with the French state. Their development aid, military and political support means that we cannot ignore our former coloniser. Our dependency from France goes hand in hand with crooked business deals.”

Continue reading on African Arguments

By Lucas Destrijcker and Mahadi Diouara

The case for removing US sanctions on Sudan

The US first imposed sanctions on Sudan more than two decades ago. By 12 July 2017, the administration of President Donald Trump must decide whether to permanently lift some of these. This is not an easy decision, but it is the better, although imperfect, choice.

After decades of hostile relations, the US cautiously started engaging with Sudan’s government in 2015 on the potential for sanctions relief. Barack Obama’s administration announced a temporary suspension in January 2017 and held out the prospect of permanently repealing them if Sudan continued a series of advances made over the upcoming six months.

[Easing Sudan’s sanctions: Lifeline for Bashir or catalyst for change? ]

As outlined in a new Crisis Group report, Sudan’s government has made important progress in five key tracks, as required by the process. This includes cooperation on counterterrorism, and with the US-backed counterinsurgency efforts against the Lord’s Resistance Army (LRA). It has also ended “negative interference” – support for armed groups – in South Sudan. But progress has been less apparent in improving humanitarian access and ceasing hostilities in the “Two Areas” (South Kordofan and Blue Nile) and Darfur.

Many see the lifting of sanctions as a reward for an autocratic and repressive government. But not lifting them could discourage further cooperation and lead to a reversal of the advances made. If it repeals the sanctions, Washington would retain important leverage over Khartoum, including targeted sanctions on individuals associated with the Darfur conflict and Sudan’s designation as a state sponsor of terrorism. These could be used as leverage to push for greater change.

Sudan’s long history of sanctions

The US first imposed sanctions in 1993 with its designation of Khartoum as a State Sponsor of Terrorism. At this time, Sudan was harbouring US-designated terrorist groups and individuals, including Osama bin Laden. Trade and economic sanctions followed in 1997 and 2006 with Khartoum’s brutal tactics during counter-insurgency operations in Darfur and against the Sudan People’s Liberation Movement/Army (SPLM/A) in the south, also seen as a major problem for US-Sudan relations.

Following Sudan’s consent to a referendum on the self-determination for South Sudan in 2011, the Obama administration offered to review Sudan’s sanctions regime. But continued fighting with Darfur and in the Two Areas halted such efforts. Although justifiable at the time, keeping sanctions in place had grave implications for the relationship between Sudan and the US and reinforced mutual mistrust.

Continue reading on The African arguments

By Magnus Taylor

An economic strategy for The Gambia

Recently I spent time in The Gambia, a country whose people overthrew a megalomaniacal, authoritarian and vicious President, Yahyeh Jammeh, in an extraordinary democratic moment, due to their courage and the timely supportive action of other countries in West Africa (and very little if at all due to support from major powers, apart from their role in placing some effective limits on prior abuses and eventually supporting a Security Council resolution that helped to legitimize the regional action).

I was able to observe a moving event in which members of the country’s diaspora, from Alaska to Taiwan and from Cape Verde to Sweden, most of whom were active in opposition (and quite a number of whom were highly educated professionals successful in the countries to which they have departed) assembled to meet the new President and to express their pleasure at the New Gambia as well as their sincere hopes for the future. Conversations with ordinary Gambians reveal general relief and enormous optimism. Arguably, the current juncture provides the first opportunity since the country’s independence in 1965 for a broad ranging public conversation on the ends and means of development.

On the agenda of the new and widely welcomed government are now not only the restoration of the rule of law and democratic institutions, but addressing economic and social concerns long severely neglected. Gambians had been among those who are crossing the Mediterranean to Europe, in the hope of a better life, in large numbers relative to their small population. Many concerns need urgent attention.

This includes a population in poor health and insufficiently educated, an undiversified economy vulnerable to downturns in demand for its few exports, and an economy unable to generate sufficient employment, especially for youth. The smallness of the country makes it difficult to pursue many strategies available to larger countries, such as those which might accord a driving role to domestic demand (which presumes that the national economy can provide the scale and diversification required for such an approach).

Break the chains of imperialism? Rouse the people to revolution? One wishes it were so simple. The responsible economic analyst must provide prescriptions relevant in the here and now, while not losing track of the broader questions and ultimate concerns. International and national realities – financial, technical, political and social – must all be faced, even as one dreams a dream. Fostering a dynamic and inclusive market economy, able to weather the unforgiving storm of the global economy, even while combatting its constraints and attacking its limitations, is the most proximately realizable utopia.

The dominant approach to economic management for the Gambia and countries like it, coming from the World Bank, IMF and Western governments (who tend speak more or less in unison on such issues) emphasizes “sound” macroeconomic management, interpreted in terms of maintaining manageable debt, low inflation, a realistic exchange rate conducive to avoiding sustained external deficits, and a climate for doing business that is attractive for investors. This is not always wrong, but it is very frequently wholly inadequate.

The focus on these priorities reflects the thinking and interests of external institutions, and in particular the perceived desirability of a reliably pro-business (and in particular pro-foreign investor) economic environment. It is based on the idea that such conditions, perhaps complemented by some investment in human capabilities and administrative reforms, are sufficient to jump-start economic growth, as the country specializes in the areas in which it has a comparative advantage. This worldview leads to a concern with lowering costs rather more than it does with raising productivity. Most importantly, it does not directly consider what is needed for the incremental structural transformation of an economy.

Those countries that have successfully developed in any sense have generally pursued a more active strategy. A program of action focused on a country’s own development goals must therefore extend beyond providing economic stability and an institutional and policy environment attractive to business, whether foreign or domestic. In the present delicate transitional situation of The Gambia, sensitivity to a broader range of issues – economic, social and political – as well as a long-term orientation that is strategic, is needed. (For purposes of this discussion I shall take as given the colonially derived borders of the Gambia, despite the reasons for thinking that it is an important part of the reason for the country’s woes. The maxim that one might adopt is that the borders may not be abolished but that they can be made less relevant).

One contrast between the different views on economic policy is expressed at the level of high theory by the orthodox view that it can be dangerous and costly for any government to attempt to intercede in ways that aid particular industries, as this involves forms of prognostication of which it is not capable – picking winners. However, this criticism fails to recognize that interventions can be of very different kinds, and that they do not have to involve costly subsidies – which may be infeasible quite apart from their being ill-advised.

They can involve helping to remove infrastructural obstacles (such as in power, storage or transportation), changing trade or tax policies so as to lower the costs of producing or procuring specific inputs, steps to enhance skill development and dissemination of technical knowledge, improving marketing or distribution, organizing industry, workers and civil society to share information or overhead costs better and otherwise solve problems, and many other actions. Some of these measures can be undertaken even by governments with limited capabilities, on the basis of a specific analysis of what is needed combined with a realistic assessment of what it is capable of doing. The idea of growth diagnostics advocated for in recent years is in this spirit, as it recognizes that there may be structural obstacles to be identified and removed in order to bring about higher levels of economic growth.

A part of the theoretical grounding for such an approach within the framework of standard economics is the theory of the second best, which clarifies why impediments to the functioning of markets or states that cannot be directly negated might have their adverse effects diminished by introducing other measures, but noting that the right actions can only be identified through a contextually sensitive study of the various impediments that are present.

These impediments may exist either in the national economy or in the world economy and may affect the ability to realize a higher national income presently to enter onto a higher growth path. A set of economic policies and actions that best serve the country’s development must at a minimum sustain livelihoods and generate employment, raise incomes and relieve the country’s foreign exchange constraint (The Gambia is perennially aid dependent and accordingly constrained).

Continue reading on Africa is a country

By Sanjay Reddy

Credit picture: Pawel/Flickr.com

Italy is back at the European Development Days

Brussels – The 11th edition of the European Development Days will be held in Brussels on June 7 and 8. Organised by the European Commission, the EDD bring the development community together each year to share ideas and experiences in ways that inspire new partnerships and innovative solutions to the world’s most pressing challenges. This year, the Italian delegation will be led by the Deputy Minister for Foreign Affairs, Mario Giro, and the Director of the Italian Agency for Development Cooperation (AICS), Laura Frigenti.

Each year, the EDD attract over 5 000 participants from over 140 countries, representing 1 200 organisations from the fields of development cooperation, human rights and humanitarian aid. The EU also engages political leaders, development practitioners, the private sector and civil society in shaping the EU’s policies for tackling poverty worldwide. In its Global Village, composed of up to 76 stands, development actors will to demonstrate the benefits of the European Union’s international cooperation. They communicate results and share their experience about “innovative projects and research initiatives”.

Following the approval of a new reform on the Italian international cooperation system in August 2014, its implementation symbolised by the launch of the Italian Agency for Development cooperation (AICS) in January 2016, the Italian Development Cooperation will attend EDD with an important delegation led by the Deputy ministry for Foreign Affairs, Mario Giro, and the Director of AICS, Laura Frigenti.

Mario Giro will attend the first High Level panel of EDD on June 7 – “Investing in creativity, the future is now: from human development to inclusive growth and sustainable societies” – , co-organized by AICS with the British Council, Goethe Institut and other ten European associations.

Since 2008, creative sectors are among the fastest-growing worldwide. Copyright industries contribute to GDP an average 5.2 %, sometimes exceeding 10 %. Similar trends are observed for CCIs contribution to national employment; an average 5.36 % worldwide. Culture’s social impacts enhance also important indirect economic impacts. Investments in cultural participation empower citizens and communities, develop connectedness, well-being, identity formation, social cohesion, value and behaviour change. The digital evolution opens up new opportunities for business development, including in remote areas. During this session, Mario Giro and other speakers (including Firmin Edouard Matoko from Unesco, the singer Rokia Traoré and Felwine Sarr from the University Gaston Bergé in Senegal) will raise awareness about the contribution of creativity to sustainable growth and employment, notably for youth. Also on the agenda are local development, cultural tourism, and trade of cultural goods and services.

In the afternoon of the same day will be the turn of the workshop on “Inclusive Business and the Creation of Development Ecosystems“, organised with De Lab and Inclusive Business Action Network, which will see the participation of the Director of the AICS, Laura Frigenti, together with Lucia del Negro of DeLab and Christian Jahn, Executive Director of IBAN. In this session, speakers will talk about sectoral cross-sectoral partnerships and development-impact innovations. To expand the networks of people involved in international co-operation and to promote innovation in methods and content, the Italian Development Cooperation Agency intends to involve profit organizations and will do so for the first time in 2017 with a dedicated call that will allocate 5 million euros for initiatives proposed by private profit or social enterprises.

This is an absolute novelty, however, provided by the reform adopted in 2014 which includes in the new subjects of cooperation the Italian private sector. Finally, AICS will be present at the Global Village with a stand (“Awakening Beauty”) that will showcase the support of Italian talent in cooperative initiatives to protect the cultural heritage at risk, along with the colors and richness of the stories of cultural businesses supported by the Italian development cooperation.

For more information please visit AICS and EDD17 websites.

By Joshua Massarenti.

Sources: Aics, EDD 2017.

Africa and India – Sharing the Development Journey

The 52nd Annual Meetings of the African Development bank are being held in… India from 22 to 26 May 2017. “This is the busy and bustling future that Africa and India must shape together in a strategic partnership. And nowhere is this partnership more needed than on the issue of infrastructure”, writes in this Op-Ed the President of AfDB, Akinwumi Adesina.

Africa, like India, is a continent of rich and compelling diversity. Both continents share a similar landscape, a shared colonial history, and similar economic and demographic challenges. This helps both India and Africa work especially well with each other.

This cooperation is both a mutual privilege and priority. At the end of the 2015 India-Africa Forum Summit, Indian Prime Minister Modi announced very substantial credits and grant assistance which benefitted our relationship. In addition to an India-Africa Development Fund, an India-Africa Health Fund and 50,000 scholarships for African students in India were established.

India’s bilateral trade with Africa has risen five-fold in the last decade, from $11.9 billion in 2005-6 to $56.7 billion in 2015-16. It is expected to reach $100 billion by 2018. This is attributed largely to initiatives by India’s private sector, and here again we are on the same wave length. We understand and appreciate that the private sector will be the critical element in Africa’s transformation.

African countries are targeted by Indian investors due to their high-growth markets and mineral rich reserves. India is the fifth largest country investing in Africa, with investments over the past 20 years amounting to $54 billion, 19.2% of all its total Foreign Direct Investment.

At the same time a transformed Africa is taking shape. Despite a tough global economic environment, African countries continue to be resilient. Their economies, on average, grew by 2.2% in 2016, and are expected to rise to 3.4% this year. But the average does not tell the true picture. Indeed, 14 African countries grew by over 5% in 2016 and 18 countries grew between 3-5%. That’s a remarkable performance in a period when the global environment has been impeded by recession.

By 2050, Africa will have roughly the same population as China and India combined today, with high consumer demand from a growing middle class and nearly a billion ambitious and hard-working young people. The cities will be booming, as the populations (and economic expectations) rise exponentially around the continent.

Continue reading on Ips Africa

By Akinwumi Adesina

Kenya’s Drought: Response Must Be Sustainable, Not Piecemeal

Food security in Kenya has deteriorated significantly since the end of 2016. UNICEF reports a significant increase in severe acute malnutrition. Nearly 110,000 children under-five need treatment, up from 75,300 in August 2016. Waterholes and rivers have dried up, leading to widespread crop failure and livestock depletion. At the height of the drought, surface water in most counties had either dried up or its level dramatically reduced.

Consequently, within a year, the price of maize flour has risen by 31 per cent, milk by 12 and sugar by 21 per cent. These food price increases have driven inflation up from 9.04 per cent in February to 11.48 per cent in April. Many families are making do with just one meal in a day.

Conditions are dire in half of Kenya’s 47 counties. Livestock and milk production has declined, adversely affecting food consumption levels for communities, particularly women and children.

Malnutrition is widespread among children. In the hardest-hit counties of Turkana, Marsabit and Mandera, a third of children under 5 are acutely malnourished – double the emergency threshold. High malnutrition, when combined with an outbreak of cholera or measles, can lead to a surge in deaths among children and other vulnerable groups.

Underfunded response

We must urgently respond to this malnutrition crisis through treatment and prevention. Blanket supplementary feeding for young children and pregnant and lactating women can avert a catastrophic spike in mortality in the months ahead.

The World Food Programme (WFP) and partners have developed a US$30 million plan to intervene with blanket supplementary feeding in nine northern hotspots, but only 10 per cent of the required funds have been committed.

By the time the Government had declared drought a national disaster, over 2.6 million Kenyans were in urgent need of food aid. This figure will increase unless an appeal for US$166 million to support the most vulnerable is met; less than a third of that amount is available so far.

Don’t be fooled by the news of floods in recent weeks, this has done nothing to alleviate drought-induced malnutrition among children. Flooding is an indicator of poor infiltration resulting from lack of vegetation and soil degradation. This means that much water is flowing off the soil and too little is seeping in. We will face drought again before the onset of the short rains later this year.

Government efforts

President Uhuru Kenyatta declared a national drought disaster in February 2017 and committed US$128 million towards the national drought response.

The Government of Kenya has allocated resources for food aid and monthly cash transfers through its Hunger Safety Net Programme.

Its Livestock Insurance Programme offers a lifeline to affected pastoralists, enabling them to purchase animal feed to keep their herd alive during drought. In addition, offtake programmes are helping farmers to sell of their herds and restock as necessary when conditions improve.

These are commendable efforts but the number of people accessing such support is not enough, and the needs are fast outpacing the response.

Continue reading on Ips Africa

By Siddharth Chatterjee

Is Africa’s development real or an illusion?

Bob Collymore, the chief executive officer at Kenya’s telecommunication giant Safaricom and former African Development Bank (AfDB) President Donald Kaberuka were at the 2017 Mo Ibrahim Foundation annual Governance Weekend conference on April 7. Their business was to convince a huge audience that Africa’s development was real and not an illusion as held in some quarters.

On the opposite side were Vera Songwe, the head of International Finance Corporation (IFC) in West and Central Africa, and Mohammed Ould Bouamatou, the founder of Foundation Pour l’Egalite de Chances en Afrique. The 63-year-old self-made Mauritanian is also a leading businessman.

Mr Patrick Smith, the Editor, Africa Report, was the umpire.

By a show of hands, the audience voted for or against the notion that Africa’s development was an illusion. The vote would be conducted again at the end of the debate to determine those swayed by the respective arguments to change their positions.

Erroneous focus

The Afro-Optimists, the believers that Africa’s development was real, easily won the first vote. The victory was probably because the voters were genuine or were merely being ‘patriotic’ by not being seen to have lost faith in sweet mother Africa.

To Dr Kaberuka, things were looking up for Africa, but a lot of people tended to focus more and erroneously on the continent’s two giants, Nigeria and South Africa, whose economies were currently headed south. Outside of the two and in a few conflict zones, the rest of Africa was doing great, Dr Kaberuka asserted.

In particular, Dr Kaberuka pointed out, there was phenomenal growth in the service industry, even if manufacturing and agriculture were not as vibrant.

Fewer businesses, Dr Kabeuka went on, had closed shop in Africa in the recent past, compared to Russia and Mongolia. Even Africa’s bludgeoning population was a positive as there could be no development without the requisite human resource.

Limping economy

To Ms Songwe, even agriculture, the mainstay of the African economy, was limping. Though the sector employed 70 per cent of the population, they only worked for three months a year, as their activities were dependent on human labour and the forces of nature.

How could Africa’s development be real when it was home to half of the total 746 million people who lived in extreme poverty globally? She posed.

That some 600 million Africans lived in darkness, having no access to electricity, which is the main driver of modern economies, was a further confirmation that Africa’s development was an illusion, Ms Songwe went on.

The glitzy airports and shopping malls that Africa’s elite were directing immense resources to, made no meaning to the majority, she reckoned.

Continue reading on The East African

By Charles Omondi

Lessons from Kaundanomics

A story is told that a few years after independence in 1964, Kenneth Kaunda, Zambia’s first president, visited one of the mines in the mineral rich Copperbelt Province and was immediately struck by the complete absence of Zambians in senior management positions.

He proceeded to ask the mine owners as to when they reasonably thought Zambians would be ready to occupy positions of influence within the country’s mining sector. With straight faces, the mine owners responded “not before 2003, Mr. President.”

Following independence from Britain, Zambia’s economy was organized broadly along capitalist free market lines. The economy, split up into mining and non-mining sectors, was wholly in the hands of foreign private interests. The copper mines, the country’s jewels, were owned a 100% by Anglo American Corporation and American Metal Climax. Both companies having obtained the rights to mine copper in perpetuity from Cecil Rhodes’ British South Africa Company (Rhodes had himself obtained the mining rights under dubious circumstances). The non-mining sector – including banks, insurance companies, construction companies and so on – were similarly in the hands of foreign interests.

The logic, or at least hope, in organizing the economy in this way was that unfettered foreign capital would not only drive productivity improvements at home, including knowledge and technological transfers, but would, crucially, play a big role in meeting the newly independent country’s social expenditure targets. The latter point was of vital importance given that the colonial government had disproportionately privileged whites in the provision of social services.

Unsurprisingly, unfettered foreign capital did the exact opposite. Instead of re-investing a considerable proportion of their profits in local operations, the mining companies externalized almost everything. Before independence, mining companies had re-invested about 50% of their profits in Zambian operations. After independence, the rate of re-investment fell to about 20%, according to estimates by Oliver Saasa, a Zambian development expert.

Things were not any better in the non-mining sector. Saasa estimates that the outward remittance of dividends to foreign owners increased by 84% in 1966, two years after independence. As for the commercial banks, they continued just as before to favor resident Europeans in the provision of credit facilities. Only 15% of bank credit was extended to Zambian citizens, a move that constrained the emergence of an indigenous entrepreneurial class.

In as far as funding the state purse was concerned, the mining and non-mining companies utilized all manner of gimmicks, including “invisible costs,” to ensure that their tax liabilities in Zambia were kept to a bare minimum.

It very early on dawned on Kaunda and his team that “the encouragement of private investment inevitably meant the promotion of the dominance of foreign enterprises in the productive sectors of [Zambia’s] economy.” Rather than be engaged in a never-ending game of dubious logic with the foreign capitalists, Kaunda decided to act.

Continue reading on Africa is a country

By Grieve Chelwa

Picture credit: Rodger Bosch/Getty Images.