In an intriguing Q&A in the German magazine Der Spiegel, a young Kenyan economist makes the case that the steady flow of Western aid to Africa actually hurts countries there by propping up inefficient bureaucracies and undermining markets for homegrown food and locally made textiles. I don't know much about African economics, so I can't vouch for the ideas contained in the piece (here's the link to it.) But still, it's an interesting read and raises questions not just with respect to the aid that G8 countries send to Africa, but also about how policy makers everywhere (including the U.S.) attempt to solve economic problems.
For additional information of Africa's entrepreneurs, check out the documentary Africa: Open for Business which is getting a decent amount of attention in global entrepreneurship circles. I saw the film at a screening held by the Africa-America Institute in New York with my colleague Nicole Gull, who previously blogged about it here.
Last updated: Jul 8, 2005
MIKE HOFMAN was previously editor of Inc.com and a deputy editor at Inc. magazine, which he joined in 1996. The site was nominated for a National Magazine Award for Digital Media in 2010, and was named the best business website by Folio Magazine. In 2006, Hofman was part of a team of writers nominated for a Webby Award for best business blog. He lives in New York City. @mikehofman