Is Aid To Africa Stifling Economic Development?

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Over $50 billion worth of aid is poured into Africa every year. Most of it is targeted towards poverty reduction, hunger, and achieving sustainable development goals. Yet Africa remains among the poorest of the poor. The level of disease still continues to stay high and mortality rates remain high. Unemployment levels are soaring and the standard of living remains very poor.  Lack of access to electricity and clean drinking water coupled with lack of food in some areas is very much a reality. 85% of Africans are surviving on an income less than $5.50 per day. In trying to take stock of the situation an assessment of the efficacy of aid is a necessity.  Given the amounts of aid that have flowed in, there are questions as to why the state of the continent continues to be pitiful. Does aid stifle economic growth? Does aid have the transformative power to adequately meet continental challenges? The debt situation  Sub-Saharan Africa (SSA) is severely underdeveloped. By most development metrics, it compares unfavorably to most developed and even other developing nations. In terms of life expectancy, literacy, and GDP per capita SSA still ranks extremely low. While some steps have been taken to

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Evelyn is a finance and business content writer with a passion for business news in Africa. Her expertise is in analyzing African equities and telling the truth when it comes to doing business on the continent!

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