Beneath the surface of the Africa rising illusion May 29, 2014

The Africa Rising illusion: continent needs more than just growth – By K.Y. Amoako @ The African Arguments

We hear a lot these days about “Africa Rising” – and with good reason. … Enabled by reforms in macroeconomic management, by high commodity prices, and by increasing exports of extractives, this growth has created a spirit of optimism, encouraged foreign investment, and provided an incentive for young Africans to return home after being educated abroad. Increasing earnings among some sectors of society have supported the emergence of an African middle class, with promising purchasing power. But beneath the surface it’s not that simple. The rate of African growth may have increased, but the structure of most Sub-Saharan economies has not changed much over the past 40 years. African economies are still narrowly based on the production and export of unprocessed agricultural products, minerals, and crude oil. There is little manufacturing— indeed, in many countries the share of manufacturing in GDP is lower now than in the 1970s. Competitiveness on global markets – apart from crude extractive products – is low due to poor productivity and underdeveloped technology. And in most countries, more than 80% of the labor force is employed in low-yield agriculture or informal activities in towns and cities. Thus the headline statistics disguise both residual problems and inherent vulnerabilities. Recent economic growth has not eliminated inequalities between or within countries, and has done little to reduce hunger. While the proportion of Africa’s population living in extreme poverty is falling, the total number of extremely poor people rose by more than 20 million between 2002 and 2012. Youth unemployment threatens instability, and while access to education has improved significantly, standards are still low. This is not the first time that the continent has experienced growth of an unequal or unstable nature. Indeed, in the years after independence, the region’s economy was booming. But growth faltered in the mid-1970s following the first oil price shock, and the 1980s and the first half of the 1990s saw incomes fall and poverty increase. How can we prevent this pattern repeating itself? – Read more @http://africanarguments.org/2014/05/29/the-africa-rising-illusion-continent-needs-more-than-just-growth-by-k-y-amoako/

 

The silent recolonisation of Africa is happening on a mass scale.

Tragically, a silent recolonisation on a mass scale is happening through further dispossession in areas where the original colonisation had not been complete. The new colonisation is dressed in the language of economic development and fighting poverty but its interest is the satisfaction of the needs of multinational companies for markets and land to grow food for export – to satisfy the food needs of their primary market while depriving Africans the satisfaction of their needs.- Read more @

http://thisisafrica.me/land-grabbing-africa-new-colonialism/