Foreign aid has failed to eradicate poverty - Kalu
Foreign aid has not ensured poverty eradication and the development of countries in Sub-Saharan Africa, Prof Kenneth Kalu of the Department of Global Management, Ryerson University, Toronto has said.
Prof Kalu in his research discovered that over the last fifty years, Sub-Saharan countries have received more foreign aid than any region of the world. The countries are Angola, Chad, Cameroun, Equatorial Guinea, Democratic Republic of Congo and Nigeria.
“The current regime of foreign aid, which focuses on sending money and other materials to African countries, does not have the capacity to produce development and eradicate poverty. Foreign aid can only soothe the pains of poverty but cannot reduce poverty levels significantly,” he said.
Kalu said the most appropriate way to fight poverty is to target the root causes of poverty rather than treating its symptoms.
In his book “Foreign Aid and the Future of Africa” he said the biggest challenge to Africa’s development is the nature of political and economic institution prevalent in the region. He said for development to take place, we must “change the orientation, philosophy and mindset of government officials and institutions”.
He said donors should invest more in building lasting institutions that would outlive them, saying “Development can only be achieved through conscious national development programs and giving every citizen irrespective of tribe, ethnicity, or religion the opportunity to contribute to development.”