We are a national non-profit organization which focuses on financial literacy to empower all of Africa’s people to make sound financial decisions, spend money wisely and save for their children’s education, their retirement and for critical illness early death or the loss of a job. The colonial powers left the countries with viable financial institutions, but years of corrupt governments and management practices have rendered these institutions completely incapable of contributing to the generation of wealth for the people.
In these countries it is much easier for corrupt foreign businessmen to obtain business loans than for a local entrepreneur to get sponsorship to do anything. So it is that the countries’ mineral deposits are exploited almost exclusively by foreigners who make sure that all their profits are repatriated to their home countries. The same is true for lucrative government contracts. Contracts are normally awarded to foreign companies which pay the highest amount under the table to the government minister and/or the permanent secretary in charge of the project.