A lot of it comes from the lack of investing within and overall mismanagement. Nigeria, for example, does little in the way of controlling their exports like the commonly mentioned mineral fuels and oil. They do little in regards to actually refining it, spending money on shipping and having other people refine it. A lot of that money spent on that could be directed inwards. There is little done to make their countries inviting to investors as well. All in all, there is little in the way of vision or a clear plan in regard to how they do things and even more, too many of the elected officials are corrupt and full of it. For example, there is a road in Abuja that has many apartments/hotels setting up yet the road is a mess. The owners of these buildings keep telling the government to fix it and they keep stonewalling them. When the owners tried to fix the road themselves, the government stepped in and stopped them from doing so. Now there is an election coming, the government has started fixing the road under the appearance that they are fixing up the country when they aren't. Ghana's issue may not be this dire but there is some of that since corruption is an issue hard to deal with. Also, I don't want to think the issue with counterfeits is playing a part but that can't really be helpful also.
Dubai did a lot of smart shyt. You weren't allowed to start a business there unless a local owned 50% of the shares. All the oil money went to a sovereign wealth fund that funded private businesses and the returns used for infrastructure. Built a luxury airline that effectively acts as a tax on people who come through (Emirates). Anyone who acted out or tried some stupid shyt got dissapeared in the desert. Africa needs to copy this, it has even more resources.
Always blame da leaders...
Ghana president started well, at least in his speeches, and turned bad recently. I saw him shyting on Burkina Faso before asking for an IMF loan.
The current leader is planning to build a half billion dollar cathedral which would be of no benefit to anyone in the country at a time when the country is broke and has now defaulted on its loans. Majority of the country is poor as well and so half a billion dollars would go a long way to improving the lives of the people. He travels around the world in a private jet that costs about $20000 dollars an hour.
Name to thread correlation.
They also need to learn from some of the smaller asian countries and not be afraid to penalize even larger investors, like how Malaysia was with China in some instances.
look at Paul Kagome he’s already getting hate (can’t blame them he’s playing cia games by fukkin with Congo) it’s really going to get ugly before it gets better people have no clue
