Donors stifle initiative by dishing out grants to African countries
Posted Thursday, May 24 2012 at 20:00
It is a paradox of sorts that as African countries continue to receive aid, the intended beneficiaries continue to wallow in poverty.
The idea of dishing out money stifles initiative and reduces those who partake from the plate of aid to beggars.
Grants should be substituted by loans. Those who have projects in mind should be given loans to actualise them and make repayments as agreed.
This will allow every person who is committed to development to benefit from such funds through micro financing.
To break the curse of development aid, a lot more needs to be done, especially by donors. They need to be vigilant on how their funds are spent and assess the impact of their contribution.
Development aid to Africa is a cash cow to those who manage the funds on the donor side.
They can afford lavish lifestyles, thanks to the colossal amounts they pay themselves in salaries and allowances.
The recipients have also devised ways of ensuring that their own parochial self-interests are met.
These two groups are keen to maintain the status quo by allowing and promoting the vicious cycle of poverty.
Fortunately, the level-minded within their ranks are feeling guilty and are pushing for action to end the abhorrent situation.