Why do we need foreign capital today?

In the history of Africa, people came to collect wealth, to grab shares of the resources available here. Fortunes were assembled by traders, rubber plantation developers, colonists, settler-farmers, mining men and more. What has changed?

Why is it that today we hear our so-called leaders crying out for ‘capital inflow’? Why were those who came before, seeking fortunes, able to create piles of capital, able to build fortunes, but now we are dependent, it seems, on bringing capital in from outside. The resources are here. What is the problem, that we can no longer build fortunes from what is already here, without first bringing in fortunes of foreign capital?

 

 

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