The curse of foreign aid to Africa

By Dereck Tafuma 

Africa has been receiving foreign aid to fund economic growth and development for more than half a century with no meaningful results in its economies. Foreign aid has been a monumental failure and African governments must take responsibility and accept that they need to honestly rethink the foreign aid model which keeps them 'asking for more'. 

The African aid model was no exit plan in sight. It keeps African countries indebted forever as they constantly play catch up with interest rates. The economic blueprints that they have adopted have failed due to poor implementation and fiscal indiscipline. 

The government officials have benefited from free cash at the expense of the poor majority. Cycle after cycle and budget after budget African governments have funded public goods and services using foreign aid to the extent that they have have become more accountable to foreign aid donors than to the electorate who put them into power. 

It is time for the African smart creatives scattered across the globe to step up to the plate and lead African Renaissance. The platforms for interaction are now available with the growth of the information superhighway.