Providing a Foundation for Wealth Creation and Development in Africa

Providing a Foundation for Wealth Creation and Development in Africa

Author: John Mukum Mbaku

Publisher:

Published: 2017

Total Pages: 94

ISBN-13:

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This paper examines the struggle in Africa to alleviate and eventually eradicate poverty. It is argued that the most effective way for African countries to deal with poverty is to create wealth. Unfortunately, these countries have not been able to create the wealth that they need to confront poverty. This is due primarily to the fact that since independence, many African countries have not been able to undertake democratic institutional reforms to create and adopt institutional arrangements that guarantee and sustain the rule of law. Within legal systems in which the rule of law is accepted and respected, civil servants and political elites are adequately constrained and hence, cannot easily engage in growth-inhibiting behaviors such as corruption and rent seeking. In addition, these types of institutions enhance peaceful coexistence and provide an enabling environment for wealth creation. So they can effectively deal with poverty and improve the people's living conditions, African countries must engage in reforms to provide themselves with institutional arrangements that guarantee the rule of law.


Institutions and Development in Africa

Institutions and Development in Africa

Author: John Mukum Mbaku

Publisher: Africa World Press

Published: 2004

Total Pages: 360

ISBN-13: 9781592212071

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A significant contribution to the debate on poverty alleviation in Africa, Professor Mbaku offers practical policies for economic growth. He argues that the most important contributor to poverty and deprivation in Africa is the absense of institutional structures that enhance indigenous entrepreneurship and wealth creation. He explains that these are so vital that living standards will continue to deteriorate unless these building blocks are put in place.


Entrepreneurship and Wealth Creation at the African Bottom of the Pyramid

Entrepreneurship and Wealth Creation at the African Bottom of the Pyramid

Author: Professor Alain Ndedi

Publisher:

Published: 2014

Total Pages: 0

ISBN-13:

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During the last half century, the economic performance of the developing world has been far from uniform. Developing countries were polarised into those that made great progress in catching up and those that were mired in stagnation. Many African countries belong to the second group. Therefore, what could be done in order to help these countries to move from the stagnation to sustainable growth and development? During the last five decades, many attempts were explored and undertaken without any remarkable results. However, since 1999, the World Bank has promoted cutting poverty as the ultimate goal of development and required all developing countries in general and African countries in particular, to draft a Poverty Reduction Strategy Paper (PRSP) as its principal tool to reach the above. In 2000, 189 states endorsed the Millennium Development Goals (MDGs), covering an array of targets with aspirations of reaching these goals by 2015. One year after, the New Partnership for Africa's Development (NEPAD), a vision and strategic framework for Africa's renewal or rebirth (renaissance) was launched as a driver for African countries to move from long severe hunger and poverty, and consequently in reaching the MDGs. This paper outlines development macro economies policies implemented in various Africans countries since their independence in its first part. The second part bring CK Prahalad theory of the bottom of the pyramid; and this chapter asserts that the African bottom of the pyramid is not really poor, that wealth can be created in that section of the society through entrepreneurship, or a way of thinking. While the third part develops the social environment needed for sustainable and effective entrepreneurship through an efficient capital market, the fourth part examines the relevance of the concept of entrepreneurship in the African context.


Africa Redemption. From Poverty Eradication to Wealth Creation

Africa Redemption. From Poverty Eradication to Wealth Creation

Author: Ismail Badroen

Publisher: GRIN Verlag

Published: 2022-08-03

Total Pages: 201

ISBN-13: 334668802X

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Document from the year 2022 in the subject Politics - International Politics - Topic: Development Politics, grade: A, University of Namibia (Rundu Campus), language: English, abstract: Research has shown that poverty is a man-made phenomenon. Historical interventions to redress its rampant manifestation, especially in Sub-Saharan Africa, very much remain a serial flaw of misplacements in the hands of wrong architects and premised on the unholy misconception that aid will lead to both poverty alleviation and economic development of Africa. Looking at the historical landscape of the poverty debate in Sub-Saharan Africa, one cannot help but notice the silence or scarce mention of entrepreneurship as the engine for growth in the alleviation of extreme poverty. Therefore the Africa Redemption International Conference (ARIC) was conceived from the premise of a long and hard look at the serial and regrettable failures of the three salient beaten-trek interventions of Structural Adjustment Programs (SAPS), Poverty Reduction Strategies (PRS) and the Millennium Development Goals (MDGs). Earlier interventions focused more on economic growth and paid little attention to social development. With the advent of MDGs, attention somewhat shifted towards resulting in poverty being reduced by more than half between 1990 and 2015. Critical success factors including infrastructure development, domestic resource mobilization, and institutional capacity building, among others, have largely been overlooked by most of these instruments. The architecture of poverty reduction strategies has, for far too long, been the work of foreign agents with little, if any, of Africans themselves. It is generally on this very basis that the ARIC Conference was convened with the objectives to: a. Bring academics, practitioners and policy-makers into one unique place to deliberate on issues that keep Africa behind any other parts of the world in emerging out of poverty. b. Allow policymakers to chart a way forward and share that with the broader body of light-minded Africans who want to seriously take the country of scourges of poverty c. Allow academics to analyze, articulate and recommend what they perceive Africa needs to do in order to overcome its stagnation that has earned its Mantra of a Dark Continent. d. Invite development activist in the world and Africa, in particular, to share their isolated experiences with a broader community of stakeholders willing to amplify their good practice efforts to other parts of Africa where they are needed most. e. Showcase domestic innovators of all sorts