Aid to Africa

The continent of Africa and the countries within its borders defy conventional logic. How is it that countries with so many mineral riches and resources experience constricting poverty? According to an article titled, African Perspectives on Aid: Foreign Assistance Will Not Pull Africa Out of Poverty, by Thompson Ayodele, "Every decade or so, a throng of western donors, African governments, and international organizers gather to announce grand initiatives to pull the world's poorest continent out of its economic miasma." Projects such as the United Nations 1985 aid boost to Africa, and the 1996 Special Initiative for Africa, which provided Africa with 25 billion dollars, have all fizzled and failed miserably. Giving aid to Africa is most certainly a noble cause, but previous projects have failed, and this has caused many to wonder if this assistance is really benefiting the continent of Africa. Should the United States and other foreign governments and NGOs continue to provide aid, or should these governments and associations concentrate on developing trade, industry, and infrastructure?

More than 500 billion dollars in foreign aid has been pumped into Africa between 1960 and 1997. Instead of increasing development, this aid has created dependancy. For example, the countries of Ghana and Uganda are more than 50 percent aid-dependent. Consequently, the more aid poured into Africa, the lower the standard of living has become. This financial aid is clearly not assisting these countries to develop or better the lives of African citizens, and I personally believe that this aid should be terminated and channeled towards developing more effective trade methods such as bringing the local economy back into mainland Africa.

Speaking at the New Partnership for African Development, former British secretary of state for international development, noted that 40 percent of the wealth created in Africa is invested outside of the continent. The amount of capital leaving Africa is staggering. The external stock of capital held by Africans overseas could possibly be as much as 700 to 800 billion dollars. I believe that financial aid should be provided to the project of bringing African merchants and business men back to Africa. If these citizens invest in the African infrastrucutre, the economies of African countries would become much more fruitful and effective.

Africa, and especially Sub-Saharan Africa is a very poor part of the world. Financial aid has been pouring into this continent since 1960, but conditions have not changed much. Development is still at a slow pace, and poverty rages through cities and country sides. This financial aid is doing nothing for the economy and people of Africa. I personally believe that financial aid should still be provided, but instead to the effort of bringing external wealth back into Africa. The United Nations and other foreign governments should terminate financial aid, and should instead start focusing on developing trade, industry, and infrastructure.