I have decided to adopt this title for today's post ironically but do not think it is appropriate, as the subject hereunder discussed construes serious matter.
In other form, I would have asked if increasing private sector involvement, to an extent that overwhelms public sector and charity altogether will be enough to bring the ever sought human development on the African continent.
Statistics on foreign aid to African's development (estimated at more than $600 billion since 1960s) hint that the continent has been huge receiver of hundreds of billions of dollars of donors' money, but evidence suggests that these funds have been the curse that has fed today's rampant extreme poverty and isolation for the populations and unparalleled levels of corruption amongst politicians and local businesses.
Africa has increasingly become an attractive place for private business ventures in sinc with China's interest on the continent, fuelled by its thirst for natural resources. The continent has been seeing a growing number of western private investors, adventurers and mercenaires all interested to level of returns unseen nowhere on earth. Some are organized to modern forms of private equity firms developing ventures in various sectors, from agri-business to mining, to oil&gas, to energy, to sustainable ventures having the aim to reinvest profits locally. A few are simply mainstream investment banks moving ahead of the curve and snapping already organized local bunch of Harvard alumni that have headed home attracted by opportunities otherwise increasingly less available in the Western hemisphere.
In other form, I would have asked if increasing private sector involvement, to an extent that overwhelms public sector and charity altogether will be enough to bring the ever sought human development on the African continent.
Statistics on foreign aid to African's development (estimated at more than $600 billion since 1960s) hint that the continent has been huge receiver of hundreds of billions of dollars of donors' money, but evidence suggests that these funds have been the curse that has fed today's rampant extreme poverty and isolation for the populations and unparalleled levels of corruption amongst politicians and local businesses.
Africa has increasingly become an attractive place for private business ventures in sinc with China's interest on the continent, fuelled by its thirst for natural resources. The continent has been seeing a growing number of western private investors, adventurers and mercenaires all interested to level of returns unseen nowhere on earth. Some are organized to modern forms of private equity firms developing ventures in various sectors, from agri-business to mining, to oil&gas, to energy, to sustainable ventures having the aim to reinvest profits locally. A few are simply mainstream investment banks moving ahead of the curve and snapping already organized local bunch of Harvard alumni that have headed home attracted by opportunities otherwise increasingly less available in the Western hemisphere.
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