Squarely, African leaders cannot escape the blame for allowing neo-colonial exploitation continued over the years to reduce many of their people into paupers in their own countries and across Africa till this day. In no way am I against the competence of the West. However, I do not think that the West offers the best development models for Africa. Yet, till this day we adopt their (the West’s) advice on development models and we use their experts. Where lies Africa yet in the quagmire of poverty.
Even with international experts developing our development models, Africa has little to show for it. We have been trained by their experts, but the model implementation is inferior. Are we paying the West to train us (the wrong people) – they probably know it – then we have to pay them to help fix it again. This is two revenue out-streams![eap_ad_2]
I’ll bring Black Economic Empowerment into the fold here. This is South Africa’s model for equal distribution of wealth, probably the biggest failure of South Africa’s post-apartheid democracy. Corporates through legislation are forced to surrender through a BEE transaction – shareholding to a “black” consortium or black shareholders. The black consortium though has to pay the current value of that shareholding. In all instances at the very least, this has hundreds of millions of rands – moving into the billions of rands. So what exactly did the white man lose, nothing! He gained way more than what he was able to take as part of racial group. What did the black consortium get – debt? Come the global recession of 2008, so many of the BEE deals in South Africa suffered as a result, losing on the depreciated value on incurred losses for this period.[eap_ad_3]