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Does Africa need aid?

June 16, 2008

Worker carries mud bricks in Chad Rich countries look set to fall roughly $40 billion short of the amount they had pledged to give to Africa by 2010. So says a report released on Monday by the panel set up to monitor commitments made amid much fanfare at the Group of Eight summit in 2005.

The panel said G8 countries were not keeping their promises at the very moment rising food prices threaten to increase hunger and child mortality. The report also calls for a rethink of trade policies to help African countries and urges rich nations to spend more on renewable energy sources there.

But how important is aid for Africa?

Africa’s economies have been growing at their fastest in decades — the International Monetary Fund estimates African growth at well over 6 percent in 2007 and expects similar this year.

Not so long ago, net private capital flows to Africa were negligible or even negative.

investment5.JPG

But investment has soared, with China leading a rush to develop sources of raw materials. Globally, investors have been looking at Africa more seriously in the hope of potentially higher returns than in more developed markets that now face uncertainty.

Emergency aid has certainly helped to save lives during wars, famines and natural disasters, but has aid helped Africa overall? Has it held it back? Does Africa need aid now?

Have your say.

Comments

We want trade not aid. Aid impoverished the Continent.
Aly-Khan Satchu
http://www.rich.co.ke

 

Don’t give any monetary aid to Africa. Give them technical guidance and knowledge. Let them fully independent.

Posted by A.Y. | Report as abusive
 

Lay down the weapons and quit killing each other. No aid or military products, dispose of tin horn dictators and let them live like they have for thousands of years. They dont’ need money, they need to be free to do what they want.

 

Let them eat cake!

Posted by Headless | Report as abusive
 

Aid is justifiable when the alternatives are not practically viable, or cause short- or medium-term suffering for the people. HOWEVER it should be accompanied by accountability, transparency, and thoughtfulness on the part of governments, together with a sustainability plan for long-term development. The current climate of aid dependency in Africa–at all levels–is worrying.

Posted by Serena | Report as abusive
 

Aid is important – but private enterprise and business is even more important. Creating a conducive environment for business to thrive!

http://blogs.spacelinx.com

 

YES! Africa has been expolited.Raped of it’s natural resources by europeans countries.Now that the contient apperas to be making some progress interms of a solid infrastructure and national commnication is avaliabe to the average (Joe Blow like myself)can be informed,and it is time to pay back some of what was taken by the colonizers. You are asking the retorical question does Africa need aid.Well is water wet?

 

africa needs to be left alone..we dont need people who come in terms of helping us and they are here entirely on self interest only!!!!!!

Posted by moh kimani | Report as abusive
 

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