In the 50 years since the end of colonialism, wealthy countries have contributed trillions in official development assistance, yet so many African nations have failed to thrive. Much of the funding has been wasted, stolen or misused, often to keep corrupt autocrats in power. Systemic reform is overdue, but what's the best approach? An emerging concept is to facilitate a greater degree of coordination between investors seeking opportunities, host governments trying to attract private capital, and international aid agencies seeking to ensure development aid is spent on projects that will achieve measurable results.
Does this approach increase the potential for success? Could it increase Africa's attractiveness to investors? Can the public interest be served while also improving potential returns for investors?
Prof. Nyarko moderated a panel considering these questions at the Milken Institute's 2011 Global Conference inLos Angeles. The panel featured Amina Salum Ali, African Union Ambassador to the United States; Mauro De Lorenzo, Vice President of the John Templeton Foundation; Oscar Kashala, President of Union for the Rebuilding of Congo; Kola Masha, Managing Director of Doreo Partners; and Joe Sive, Chairman and CEO of the African Investment Fund.