Ancient Egyptian units of measurement also served as units of currency.
Some trade routes were overland, some involved navigating rivers, still others developed around port cities. Some parts of Africa had close trade relationships with Arab kingdoms, and by the time of the Ottoman EmpireAfricans had begun converting to Islam in large numbers.
This development, along with the economic potential in finding a trade route to the Indian Oceanbrought the Portuguese to sub-Saharan Africa as an imperial force. Colonial interests created new industries to feed European appetites for goods such as palm oil, rubber, cotton, precious metals, spices, cash crops other goods, and integrated especially the coastal areas with the Atlantic economy.
An economic rebound among some countries has been evident in recent years, however. The World Bank reports the economy of Sub-Saharan African countries grew at rates that match or surpass global rates.
The top nations in include Mauritania with growth at Nonetheless, growth has been dismal, negative or sluggish in many parts of Africa including Zimbabwethe Democratic Republic of the Congothe Republic of the Congo and Burundi.
Many international agencies are increasingly interested in investing in emerging African economies. As ofthe initiative has given partial debt relief to 30 African countries. China and India are increasingly important trade partners; A consumer class is also emerging in Africa and is expected to keep booming.
This number could reach a projected million by A new program named Trade Africa, designed to boost trade within the continent as well as between Africa and the U. Endemic warfare and unrest, widespread corruption, and despotic regimes are both causes and effects of the continued economic problems.
The decolonization of Africa was fraught with instability aggravated by cold war conflict. The Trans-African Highway network According to the researchers at the Overseas Development Institutethe lack of infrastructure in many developing countries represents one of the most significant limitations to economic growth and achievement of the Millennium Development Goals MDGs.
Chinain particular, has emerged as an important investor. The economic impact of the colonization of Africa has been debated.
Critics of colonialism charge colonial rule with injuring African pride, self-worth and belief in themselves. Other post-colonial scholars, most notably Frantz Fanon continuing along this line, have argued that the true effects of colonialism are psychological and that domination by a foreign power creates a lasting sense of inferiority and subjugation that creates a barrier to growth and innovation.
Such arguments posit that a new generation of Africans free of colonial thought and mindset is emerging and that this is driving economic transformation.
Gann and Peter Duignan have argued that Africa probably benefited from colonialism on balance. Although it had its faults, colonialism was probably "one of the most efficacious engines for cultural diffusion in world history".
In particular the economic performance of former British colonies was better than both independent states and former French colonies. Jared Diamond argues in Guns, Germs, and Steel that Africa has always been poor due to a number of ecological factors affecting historical development.
Thornton argues that sub-Saharan Africa was relatively wealthy and technologically advanced until at least the seventeenth century. Acemoglue and Robinson, for example, argue that most of Africa has always been relatively poor, but "Aksum, Ghana, Songhay, Mali, [and] Great Zimbabwe Inikori have argued that the poverty of Africa at the onset of the colonial period was principally due to the demographic loss associated with the slave trade as well as other related societal shifts.
Fage and David Eltis have rejected this view. African countries suffer from communication difficulties caused by language diversity. However, the primary language of government, political debate, academic discourse, and administration is often the language of the former colonial powers; EnglishFrenchor Portuguese.
Trade based theories[ edit ] Dependency theory asserts that the wealth and prosperity of the superpowers and their allies in EuropeNorth America and East Asia is dependent upon the poverty of the rest of the world, including Africa.
Economists who subscribe to this theory believe that poorer regions must break their trading ties with the developed world in order to prosper. When developing countries have harvested agricultural produce at low cost, they generally do not export as much as would be expected.
Although these subsidies and tariffs have been gradually reduced, they remain high. Local conditions also affect exports; state over-regulation in several African nations can prevent their own exports from becoming competitive. Research in Public Choice economics such as that of Jane Shaw suggest that protectionism operates in tandem with heavy State intervention combining to depress economic development.the effect of corporate governance on the performance of state corporations in kenya by christine ngina kyondu d61// a research project submitted in partial fulfilment.
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Corporate governance at public company and compared with OECD principles of corporate governance, (), by Bilal Topcu, Supervisor: tranceformingnlp.com Erisah Arican; University: Marmara University, Institute of Banking And Insurance, Department of Capital Markets and Stock Exchange.
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The aim of the research was to find out the nature of relationship between corporate governance and financial performance of registered insurance companies in tranceformingnlp.com study aimed at establishing how the number of directors, number of resolutions passed in. Corporate Governance Problems of Savings, Credit and Cooperative Societies , University of Science and Technology, Kenya Email: [email protected] Abstract The study discusses the corporate governance problems of Savings, Credit and Cooperative Societies (SACCOs). It examines both the corporate governance theories and conflicts . Why choose this course? At our world-leading Sussex Centre for the Study of Corruption, we analyse what corruption is, where and why it flourishes and what can be done to counteract it.; We work closely with organisations such as the United Nations and G20 to develop strategies in the struggle against corruption.
Prof Alagidede’s extensive academic career has taken him to the UK, South Africa, Kenya, Ghana, China and Finland. He has published widely on development and financial economics in top tier peer reviewed journals and contributed to policy relevant research in African economies.