Africa’s Reform Conundrum and Zimbabwe’s Tragedy

Only a strong regimen of reform can unshackle African economies from the suffocating grip of statism and free them to follow the path to prosperity.

George B. N. Ayittey is a Senior Fellow at the Independent Institute, and President of the Free Africa Foundation.

(Independent) -- Despite immense mineral wealth, Africa’s economic success stories are few. Outside Botswana, Ghana, Mauritius, and Rwanda, economies on the continent have been held back by decades of state interventionism, corruption, petulant government spending, and irresponsible borrowing. National debts have reached unsustainable levels. In 2017, Mozambique defaulted on its euro bond payment, and default risk has been rising on Zambian debt since May. Only a strong regimen of reform can unshackle African economies from the suffocating grip of statism and free them to follow the path to prosperity.

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