7 Top Reasons Why Africa Is Still Poor, 2016
“While $134B flows in each year, predominantly in the form of loans, foreign investment and aid; $192B is taken out, mainly in profits made by foreign companies, tax evasion and the costs of adapting to climate change.” – Health Poverty Action.
The presence of some of the world’s fastest growing economies in Africa serves as fodder for the Africa rising narrative. A walk around capital cities of Nigeria, Kenya, South Africa, Luanda, and others, will put a stamp on the discourse that Africa is rising at a significant rate. The crane-filled skylines, construction of road networks and railway lines, multi-million dollar mansions and business malls erupting across major towns and cities, and growing technologies are just but a few indications of the continent’s ascent to prosperity.
But even as people across the globe engage in discussions about how fast the continent is growing, ironically, the other discourse that goes hand in hand with this narrative is the astounding number of people who are still grappling with deep-rooted poverty in the continent.
One can only wonder why there is still a widening gap between the rich and the poor and why Africa is still struggling with poverty despite the fact that it is home to a major percentage of raw materials that are in hot demand around the globe.
This article was published here