Let’s not repeat the mistakes of the past
In the 1980s we saw the devastation that hit many African economies when they adopted structural adjustment programmes (SAPs). Despite the hopeful dreams of democracy, new leadership and the discoveries of oil, platinum, copper and diamonds, this mineral surge was inadequate to bring the economic revival our continent desired. Financial mismanagement, coupled with the blind adoption of SAPs, worsened many nations’ economic conditions. The inadequate increase in per-capita gross domestic product (GDP) growth was coupled with stagnant or worsened welfare of the poor.
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