1887

oa Africa Insight - Africa's Quest for Economic Independence

Volume 6, Issue 1-2
  • ISSN : 0256-2804

 

Abstract

On becoming independent most African states found their economies dominated by foreign enterprises who controlled large areas of agriculture, mining and industry. Caught between the fear of foreign exploitation on the one hand, and the need for accelerated development and employment on the other, African leaders decided to playa larger part themselves in shaping the destiny of their own countries. Various methods were employed to achieve this objective and included nationalisation, indigenisation and africanisation. Although methods adopted to achieve increased ownership or control of local economies have differed from country to country, this quest for greater economic independence has often had negative consequences actually resulting in the deceleration of economic growth. Present indications are that African governments will have to reconsider many of their policies regarding foreign participation, and endeavour to create a better climate for co-operation between African states and foreign concerns.

Loading full text...

Full text loading...

Loading

Article metrics loading...

/content/afrins/6/1-2/AJA02562804_952
1976-01-01
2020-09-26

This is a required field
Please enter a valid email address
Approval was a Success
Invalid data
An Error Occurred
Approval was partially successful, following selected items could not be processed due to error