Clip 5: Why we should fund entrepreneurs not governments (Templeton Foundation)

In "Dead Aid," Dambisa Moyo describes the state of postwar development policy in Africa today and
unflinchingly confronts a great myth: that billions of dollars in aid sent from wealthy countries
to developing African nations has helped to reduce poverty and increase growth. In fact, poverty
levels continue to escalate and growth rates have steadily declined, while millions continue to
suffer. Drawing a sharp contrast between African countries that have rejected the aid route and
prospered and others that have become aid-dependent and seen poverty increase, Moyo illuminates
the way in which an overreliance on aid has trapped developing nations in a vicious circle of
dependency, corruption, market distortion, and further poverty. Debunking the current model of
international aid promoted by both Hollywood celebrities and policy makers, she offers a bold
new road map for financing the development of the world's poorest countries.

Category:

Education

Tags:

• templeton
• templeton foundation
• dambisa moyo
• dead aid
• africa
• poverty
• bono
• easterly
• william easterly

[lifestraight]

However Robert Mugabe held a lavish, luxurious birthday celebration costing aorund $250,000 just days after requesting financial aid.

[charbonelle]

Ghanaian economist George Ayittey talks about the rotten to the core federal government ran by Kabila. He is right on "The governments in Africa are the problem". He says a new generation of Africans entrepreneurs are emerging without GVMT or AID and tacking back Africa economically through SMEs. The informal market is where the real wealth but this is dead wealth or unlocked wealth because the impoverished have no means to land title or financing.

*SME= small and medium enterprise*

[charbonelle]

Proposed solution: Cooperatives (co-ops) for different industries in Africa should act as a corporation on behalf of the workers in the informal sector existing examples such as (see video): Mondragon Cooperative.

THE MOST SUCCESSFUL MULTINATIONAL WORKER-OWNED/DEMOCRATICALLY RUN CORPARTION IN THE WORLD!!!!

Africas informal sector accounts for more than 70% of the economy in terms of employment, local investments and output.

[charbonelle]

Rwandas informal sector accounts for more that 80%, there are plans to formalise it but they will remain small and fragmented. A merger of various African SMEs can form a chain of clusters to compliment each other and COMPETE internationally.

Co-ops are a great way to share resources, build a brand, maintain a sustainable income, and employ millions of workers in the informal economy. Africa can produce it's own goods and not look for handouts from SUPRAnational organizations.

[molindah]

She got it right on. Its time African leadership takes responsibily and step into the the global economic stage.

[tigerone1970]

Africa needs to start develop it's own internal markets - that is the solution to underdevelopment, poverty, governance, etc.

Dambisa Moyo is still talking about growing food for export markets.

Free trade is dead. Neoliberalism is dead.

Let's start to produce for our own markets now.

Use the government to build capacity and provide the infrastructure, and finance it with Africa's raw materials exports instead of 'aid'.

[tigerone1970]

Paul Kagame is a School Of The Americas trained stooge for western mining interests.

His army shot down the plane that carried the Hutu presidents of Rwanda and Burundi.

Of course, no one dares to use Robert Mugabe as a positive example of someone who tried to get off aid.

His currency was destroyed by sanctions (ZDERA). The US and UK massively financed the political opposition. A compliant media played it's role in his character assassination.

But hey, Paul Kagame is a hero now.