Welcome to the September Edition 2024 of Arabella Star Magazine.
“Africa is not poor; it is poorly managed.” — George Ayittey, a renowned Ghanaian economist, highlights a painful truth about the continent. Despite Africa’s vast natural resources and a youthful, energetic population, the continent remains entrenched in poverty, largely due to bad governance. Leadership failures, manifested in corruption, mismanagement of resources, and political instability have perpetuated a cycle of poverty that grips millions of Africans. Instead of prosperity, the misrule of many governments has stifled development, creating economic stagnation and poverty traps
The Poverty Trap: Africa’s Ongoing Struggle
Africa’s poverty statistics are alarming. According to the World Bank, over 460 million people in Africa live in extreme poverty, surviving on less than $1.90 a day. This constitutes more than 40% of the continent’s population. Poverty, however, is not merely an economic issue but a systemic one that reflects deeply rooted leadership failures. The connection between poor governance and poverty is evident in the way mismanagement of public resources, corruption, and political instability cripple economies and hinder growth.