Africa's development financing is a big headache

Friday, October 29, 2010

NDOLA: In recent years, most African countries have devoted a great deal of their attention to the widely accepted truism that development financing is essential in transforming the economies of the less developed nations with corresponding returns in patterns of productivity, consumption and trade.

However, a group of African researchers states that the quest by many countries in the continent, with exception of South Africa, to transform their economies through industrial development financing seems has run into a cul-de-sac.

In a draft research finding paper ahead of its presentation and publication in Zambia this month, the researchers give reasons for the failure of development financing in Africa.

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