With two years to go, the G8 leaders’ failure to meet their $25 billion additional aid for Africa promised in Gleneagles,
From the northernmost point of Morocco to the tip of
The continent still suffers the dispossession of wealth via the South-North resource flows, and adverse internal class formation. In the former case, the central processes are associated with exploitative debt and finance, phantom aid, capital flight, unfree trade and ecological exploitation. In the latter case, instead of accumulation and class formation via an organic middle class and productive capitalist class, Africa has seen an excessively powerful ‘comprador’ oriented ruling elite whose income is based upon financial-parasitical accumulation and political-bureaucratic patronage power.
Africa must therefore quantify and measure its intellectual and physical wealth, determine its value in the global market and trade intelligently.