Esther Igbinedion
Many countries on the African continent rely on foreign aid to maintain their economies, nonetheless, research shows that foreign aid rarely or never helps most countrys economies and has failed to assist countries meet economic development.
Today, Africas private capital inflow is surpassed by the international aid inflow this has affected the general development of people and businesses on the continent, with Africa having over 70 of the total global poor population.
This article takes a look at the possibility of African nations surviving without foreign aid.
The continent has the most countries in the world and also has the largest concentration of poorest countries than any other continent.
Africa is a continent made up of over a billion people living in 54 countries.
Keypoints
- How foreign aid works
- How Africa can survive without foreign aid
- Conclusion
- Frequently Asked Questions
- 1. Strengthen domestic resources
- 2. Promoting economic diversification and industrialization
- 3. Enhance interAfrican trade
- 4. Technology advancement